Smartworks posts Rs 591 Cr revenue and Rs 26 Cr profit in Q2 FY27

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Managed office space provider Smartworks reported its financial results for the quarter ended September 2026 (Q2 FY27). The company posted a 39% year-on-year growth in revenue during the period. Meanwhile, its EBITDA grew 37% to Rs 391 crore.
Smartworks’ revenue from operations rose to Rs 591 crore in the Q2 FY27 from Rs 425 crore in Q2 FY26, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE).
Smartworks derives the bulk of its operating revenue from the development, design and licensing of serviced office spaces, along with fit-out services and other ancillary offerings. The company also reported Rs 14 crore in non-operating income during the quarter, taking its total income to Rs 605 crore in Q2 FY27.
On a sequential basis, the firm’s operating revenue grew 8% from Rs 546 crore in Q1 FY27.
On the cost side, depreciation related to lease expenses was the largest expense for Smartworks at Rs 259 crore, up 31% from Rs 198 crore in Q2 FY26. This was followed by operating expenses, which stood at Rs 172 crore during the quarter. Employee benefits expenses amounted to Rs 28 crore. Finance costs and other overheads took the company’s total expenditure to Rs 570 crore in Q2 FY27, compared to Rs 445 crore in the corresponding quarter last year.
At the bottom line, Smartworks continued its profitability on a quarter-on-quarter basis and turned profitable on a year-on-year basis, reporting a net profit of Rs 26 crore in Q2 FY27 compared to a net loss of Rs 3 crore in the corresponding quarter last year.
Meanwhile its EBITDA grew 37% year-on-year to Rs 391 crore during the quarter, with an EBITDA margin of over 66%.
For H1 FY27, Smartworks’ operating revenue grew 42% year-on-year to Rs 1,138 crore. The company also reported a net profit of Rs 39 crore, compared to a loss of Rs 7.3 crore in H1 FY26.
As of 11:22 AM today, Smartworks shares traded at around Rs 477.7 apiece, valuing the company at a market capitalization of Rs 5,465 crore ($575 million).

document fetched 2026-10-31 02:57