Smartworks posts Rs 472 Cr revenue in Q3 FY26; turns profitable

Managed office space provider Smartworks has posted its quarterly results for the third quarter of the ongoing fiscal year. The firm turned profitable during Q3 FY26 alongside double-digit revenue growth.

Smartworks’ revenue from operations rose 34% year-on-year to Rs 472 crore in the quarter ending December 2025 from Rs 352 crore in Q3 FY25, according to its unaudited consolidated financial statements filed with the National Stock Exchange (NSE).

Smartworks generated most of its revenue from developing, designing, and licensing serviced office spaces and fit-out services, with additional income from other ancillary offerings. It also booked Rs 16 crore from non-operating activities, pushing total income to Rs 488 crore in the quarter, compared to Rs 364 crore in Q3 FY25. 

For the nine months period, Smartworks’ revenue was up 26% to Rs 1,276 crore from Rs 1,016 crore, a year earlier.

On the cost front, depreciation remained the largest expense at Rs 223 crore, followed by operating expenses of Rs 132 crore. Finance costs, employee benefits, and marketing took the total expenditure to Rs 486 crore, compared to Rs 445 crore in the same quarter last year.

The decent growth in scale and cost control mechanisms helped the firm to gain profitability of Rs 1.2 crore in Q3 FY26 from a loss of Rs 16 crore a year ago.

Smartworks listed on the NSE in July last year at Rs 435 per share, a 7% premium to its IPO price of Rs 407. The stock closed at Rs 474 on the last trading session, valuing the company at Rs 5,416 crore (approximately $599 million).