Smartworks Coworking Q3 profit at Rs 1.24 cr; revenue rises to Rs 488 cr

New Delhi, Jan 16 (PTI) Realty firm Smartworks Coworking Spaces Ltd has reported a consolidated net profit of Rs 1.24 crore in the third quarter of this fiscal year on higher revenue.

The company, which got listed last year, had posted a net loss of Rs 16 crore in the year-ago period.

Total income rose 34 per cent to Rs 488.14 crore during the October-December period of the 2025-26 fiscal, from Rs 363.62 crore in the corresponding period of the preceding year, according to a regulatory filing on Thursday.

During the first nine months of this fiscal, the company's net loss narrowed to Rs 6 crore, from Rs 54.87 crore in the year-ago period.

Total income increased to Rs 1,317.2 crore during the April-December period of this fiscal from Rs 1,047.61 crore in the corresponding period of the preceding year.

Smartworks takes office space on lease from real estate developers to set up coworking centres and then sub-leases the managed workspaces to corporates.

"The third quarter represents Smartworks’ strongest quarter to date and confirms that the business has entered a compounding phase," Smartworks Founder & Managing Director Neetish Sarda said.

The company delivered record normalised EBITDA alongside strong revenue growth, driven by rising portfolio maturity and sustained enterprise demand.

"Growth during the quarter was anchored in large, long-tenure enterprise contracts and continued expansions from existing clients, improving the quality, predictability, and durability of our revenues," Sarda said.

Smartworks is well-positioned to sustain momentum and continue improving returns over the coming quarters, he added.

The company has a portfolio of 15.3 million sq ft across 63 centres in 15 cities in India and Singapore. PTI MJH DRR