Smartworks Coworking Spaces Limited — PPTs, 12-02-2026: Investor Presentation

Smartworks is rapidly scaling in the flex workspace market, showing robust growth and profitability.

**Business Performance:** Revenue jumped 34% YoY to INR 472 Cr, with Normalized EBITDA soaring 86% YoY to INR 85 Cr (17.9% margin). Impressively, Ind AS PAT turned positive for the first time at INR 1 Cr. Overall occupancy stands at 84%, with a strong 92% committed. Enterprise clients, especially large 1,000+ seat deals and GCCs, are major growth drivers.

**Growth Drivers & Strategy:** Capitalizing on market demand, Smartworks plans to add ~0.25-0.3 Cr Sq Ft annually, growing its pan-India platform which stands at 1.53 Cr Sq Ft. Their strategy emphasizes campus-style managed offices, strategic landlord partnerships, and diversified city presence.

**Recent Developments:** The company secured significant new client wins across various sectors, added 0.26 Cr Sq Ft in Q3, and improved its credit rating to BBB+ (Positive) with lower borrowing costs.

**Key Financial Metrics & Outlook:** Operating Cash Flow (OCF) surged 148% YoY to INR 101 Cr, and Return on Capital Employed (ROCE) climbed to 20.5%. With net debt negative at INR (42) Cr, Smartworks expects cash flow acceleration from 0.24 Cr Sq Ft maturing in FY27, targeting 25-30% annual self-funded growth.