Smartworks Coworking Spaces Limited — PPTs, 12-08-2025: Investor Presentation

Here's a summary of Smartworks Coworking Spaces Limited's Q1FY26 financial results:

**1. Financial Highlights:**

Revenue climbed 21% YoY to INR 379.2 Cr. Normalized EBITDA more than doubled (+109% YoY) to INR 60.7 Cr, margins reaching 16.0%. Normalized PBT turned positive at INR 16.8 Cr. Operating Cash Flow (OCF) soared 71% YoY to INR 85.5 Cr. Annualized RoCE nearly doubled to 13.0%, highlighting strong capital efficiency.

**2. Strategic Initiatives & Growth Drivers:**

Transformed into a managed office platform, targeting large enterprise clients for predictable revenue. Expanding rapidly pan-India to 15 cities, achieving 12.0 Msf leased SBA. Operations are highly efficient with low capex (~INR 1,350 psf) and opex, eliminating asset-liability mismatch for FY26-27.

**3. Business Developments:**

Total leased SBA hit 12.0 Msf across 54 centers (232k seats). Operational SBA at 8.3 Msf boasts 83% occupancy. A 25% increase in SBA additions YoY was achieved. Their integrated platform strengthens ties across landlords, clients, and vendors.

**4. Market Position & Competitive Advantage:**

A leader in India's flexible workspace market, capitalizing on sector growth. High enterprise client retention (95%) and long average tenure (49 months) de-risk the portfolio. Strong unit economics show quick payback (30-32 months) and early breakeven (65-70% occupancy).

**5. Investor Implications:**

Robust financial growth, expanding margins, and improved RoCE signal positive potential. The enterprise-focused strategy, diversification, and capital efficiency create a de-risked business with high revenue predictability. Expect continued profitability and cash generation through low capital intensity scaling.