Financial Results - Consolidated (Quarter ended June 30, 2026)

Income:

  • Revenue from operations: ₹5,462.48 million
  • Other income: ₹134.18 million
  • Total income: ₹5,596.66 million

Expenses:

  • Operating expenses: ₹1,542.72 million
  • Purchases of stock-in-trade: ₹58.44 million
  • Employee benefits expense: ₹264.19 million
  • Finance costs: ₹960.98 million
  • Depreciation and amortisation expense: ₹2,457.08 million
  • Other expenses: ₹137.57 million
  • Total expenses: ₹5,420.98 million

Profitability:

  • Profit before tax: ₹175.68 million
  • Tax expense: ₹44.20 million (Current tax: ₹115.95 million, Deferred tax: ₹(71.75) million)
  • Profit for the period: ₹131.48 million
  • Other comprehensive income: ₹0.32 million
  • Total comprehensive income: ₹131.80 million

Per Share Data (Face value: ₹10 each):

  • Basic EPS: ₹1.15
  • Diluted EPS: ₹1.15

Capital Structure:

  • Paid up equity share capital: ₹1,142.63 million
  • Other equity: Not specified for quarter

Financial Results - Standalone (Quarter ended June 30, 2026)

  • Revenue from operations: ₹5,277.13 million
  • Profit before tax: ₹137.32 million
  • Profit for the period (after tax): ₹102.76 million

IPO Proceeds Utilization

During the year ended March 31, 2026, the Company completed its Initial Public Offering of 14,321,474 equity shares with face value of ₹10 each at an issue price of ₹407 per share (includes 88,812 shares issued under employee quota at discounted price of ₹370 per share). The IPO comprised fresh issue of 10,941,734 shares and offer for sale of 3,379,740 shares by selling shareholders.

Utilization of IPO Proceeds from fresh issue of ₹4,450 million:

  • Repayment/prepayment/redemption of borrowings: ₹1,140.00 million (fully utilized)
  • Capital expenditure for fit-outs and security deposits: ₹2,258.40 million (₹1,596.54 million utilized, ₹661.86 million unutilized)
  • General corporate purposes: ₹566.32 million (₹566.15 million utilized, ₹0.17 million unutilized)
  • Offer related expenses: ₹485.28 million (₹445.19 million utilized, ₹40.09 million unutilized)
  • Total utilized: ₹3,747.88 million
  • Total unutilized as at June 30, 2026: ₹702.12 million

The net unutilized proceeds are temporarily deposited and invested in escrow account, monitoring account and fixed deposit.

Subsequent Event

Subsequent to June 30, 2026, the Group entered into an agreement to acquire 100% equity shares of Workstudio Spaces Pte. Ltd., a Singapore-based coworking space operator. The acquisition was completed on July 7, 2026, for a consideration of SGD 2.47 million (₹182.20 million).

Subsidiary Information

The consolidated results include the Parent Company (Smartworks Coworking Spaces Limited) and four wholly owned subsidiaries:

1. Smartworks Tech Solutions Private Limited

2. Smartworks Office Services Private Limited

3. Smartworks Stellar Services Private Limited

4. Smartworks Space Pte. Ltd.

The auditors did not review the financial results of three subsidiaries included in the Consolidated Unaudited Financial Results, whose interim financial results reflect total revenue of ₹141.57 million, total profit after tax of ₹31.34 million and total comprehensive income of ₹31.41 million.

Additional Information

The Company has a single operating segment involving developing and licensing fully serviced office spaces, design and fitout services and other related services. All amounts are rounded off to the nearest millions, except per share data. The results are available on Stock Exchange websites and the Company's website https://www.smartworksoffice.com/investors/.