Smartworks swings to profit on 37% revenue surge in Q2

Smartworks Coworking Spaces posted a sharp improvement in financial performance for the second quarter of fiscal 2024-25, driven by strong growth in its managed office space business across India and Singapore. The company's net profit of ₹25.64 crore represented a significant turnaround from the net loss of ₹3.13 crore recorded in the corresponding quarter of the previous fiscal year. Total income rose to ₹605.3 crore from ₹441.06 crore year-on-year, reflecting robust demand across its portfolio.

The operator, which ranks among India's leading managed office space providers, currently operates 71 centres across 15 Indian cities and Singapore, commanding a total portfolio of 17.5 million square feet. Neetish Sarda, Founder and Managing Director, attributed the strong showing to sustained market demand, noting that the company is performing ahead of schedule for fiscal 2027. "Existing clients are expanding with us across cities, while new global businesses, Indian conglomerates and GCCs are choosing our platform for their infrastructure needs," Sarda said.

The results underline the growing appeal of flexible workspace solutions among multinational corporations, domestic enterprises and global capability centres seeking scalable office infrastructure without long-term commitments. Smartworks' performance in the first half of the fiscal year positions the company well to capitalise on continued expansion of the managed office sector across major metropolitan markets in South Asia.