Smartworks Coworking Spaces Ltd
Incorporated in 2015, Smartworks Coworking Spaces Limited is engaged in the business of customized managed workspace solutions, offering fully serviced, tech-enabled office environments.[1]
- Market Cap ₹ 5,321 Cr.
- Current Price ₹ 466
- High / Low ₹ 619 / 361
- Stock P/E 759
- Book Value ₹ 46.4
- Dividend Yield 0.00 %
- ROCE 8.14 %
- ROE 2.18 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 10.0 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -23.1% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 254 | 280 | 360 | 710 | 1,038 | 1,340 | 1,746 | |
| 119 | 113 | 151 | 285 | 377 | 506 | 627 | |
| Operating Profit | 135 | 166 | 209 | 425 | 661 | 834 | 1,119 |
| OPM % | 53% | 59% | 58% | 60% | 64% | 62% | 64% |
| 8 | 30 | 31 | 33 | 75 | 37 | 55 | |
| Interest | 70 | 97 | 122 | 237 | 328 | 334 | 361 |
| Depreciation | 103 | 172 | 212 | 356 | 471 | 615 | 804 |
| Profit before tax | -31 | -72 | -94 | -135 | -64 | -78 | 9 |
| Tax % | -28% | -25% | -26% | -26% | -26% | -20% | 25% |
| -22 | -54 | -70 | -100 | -47 | -62 | 7 | |
| EPS in Rs | -2.90 | -7.02 | -9.03 | -12.84 | -5.95 | -5.98 | 0.61 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 44% |
| 3 Years: | 35% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 27% |
| TTM: | 111% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -40% |
| 3 Years: | -23% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 77 | 77 | 77 | 78 | 79 | 103 | 114 |
| Reserves | 161 | 107 | 37 | -45 | -25 | 10 | 415 |
| 61 | 134 | 248 | 3,913 | 3,436 | 3,721 | 4,734 | |
| 1,060 | 1,175 | 2,498 | 526 | 660 | 794 | 1,136 | |
| Total Liabilities | 1,359 | 1,494 | 2,860 | 4,472 | 4,150 | 4,628 | 6,400 |
| 1,066 | 1,174 | 397 | 3,724 | 3,404 | 3,739 | 5,170 | |
| CWIP | 21 | 13 | 87 | 42 | 66 | 135 | 56 |
| Investments | 114 | 0 | 0 | 0 | 11 | 30 | 21 |
| 158 | 307 | 2,376 | 705 | 668 | 724 | 1,154 | |
| Total Assets | 1,359 | 1,494 | 2,860 | 4,472 | 4,150 | 4,628 | 6,400 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 114 | 153 | 214 | 529 | 750 | 903 | 1,160 | |
| -219 | -41 | -93 | -304 | -198 | -275 | -492 | |
| 113 | -161 | -114 | -171 | -577 | -624 | -602 | |
| Net Cash Flow | 9 | -50 | 8 | 54 | -26 | 4 | 66 |
| Free Cash Flow | 8 | 86 | 105 | 242 | 490 | 635 | 779 |
| CFO/OP | 90% | 89% | 105% | 125% | 116% | 105% | 104% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 6 | 9 | 11 | 7 | 5 | 7 | 7 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 6 | 9 | 11 | 7 | 5 | 7 | 7 |
| Working Capital Days | -200 | -322 | -389 | -320 | -261 | -276 | -237 |
| ROCE % | 8% | 9% | 5% | 7% | 7% | 8% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Mature Centres Occupancy Rate % |
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| Number of Centres (Total SBA) Number |
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| Number of Clients Number |
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| Operational Capacity Seats Number |
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| Operational Super Built-up Area Million sq. ft. |
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| Overall Occupancy Rate (Operational Centres) % |
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| Seats Retention Rate % |
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| Total Super Built-up Area (SBA) - Leased + LOIs/Term Sheets Million sq. ft. |
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Extracted by Screener AI
Documents
Announcements
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Board Meeting Intimation for Consider And Approve The Un-Audited Financial Results (Standalone And Consolidated) For The Quarter Ended June 30, 2026, Along With The Limited Review Reports Thereon.
10h - Board meets July 22, 2026 to approve Q1 FY27 results; investor meet follows.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulation, 2018 for the quarter ended 30th June, 2026
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Capacity Addition
7 Jul - Smartworks added 1,63,942 sq. ft. capacity in Pune; ₹25 crore investment, completion within July 2026.
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
7 Jul - Smartworks completed acquisition of WorkStudio Spaces Pte. Ltd. for 2.47 million SGD on July 6, 2026.
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Intimation Of Completion Of Capacity Addition - Under Regulation 30 SEBI (LODR) Regulations 2015
7 Jul - WorkStudio acquisition completed July 6, 2026, adding ~26,000 sq ft in Singapore.
Concalls
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May 2026TranscriptAI SummaryPPT
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Apr 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT REC
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Jan 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025Transcript PPT
Business Profile:[1]
Smartworks is India’s largest managed office campus operator, offering enterprise-focused, fully serviced office spaces. It operates as an office experience and managed campus platform, targeting mid-to-large enterprises by leasing large, bare-shell properties and converting them into Smartworks-branded campuses.