Smartworks Surges 5% On Singapore Expansion Plans

Shares of Smartworks rose 5% to reach an intraday high of ₹471.80 following the company announcing plans to expand presence in the international market. 

The coworking space provider announced that it was opening a new managed office space in Singapore’s Central Business District at Manulife Tower. The new centre would cater to GCCs and Fortune 500 companies. 

The 15,000 sq ft space is Smartworks’ third centre in Singapore and brings the company’s total footprint in the country to over 50,000 sq ft. 

“Singapore has always been a strategic priority for Smartworks – a gateway to Asia’s most dynamic business community and a market where the demand for fully serviced workspace continues to grow strongly,” MD and CEO Neetish Sarda said.

Overall, the company operates 66 centres spread across 16.1 Mn sq ft in 15 cities across India and Singapore. It primarily serves mid-to-large enterprises and commands a clientele of 770, including the likes of Google, Philips, Groww, L&T, Mahindra Logistics, MakeMyTrip, among others.

Important to note that the company has been focusing on tier I markets on the domestic front in Q1 FY27.

Last week, it announced that it had leased 400 seats to a Japanese NBFC subsidiary in Mumbai. It expects to rake in a total revenue of ₹35 Cr via the five-year engagement. Besides, the company also recently leased 4.92 Lakh sq ft campus in Bengaluru to expand into large-format managed campuses across key enterprise corridors.

On the financial front, the company reported its second profitable quarter in Q4 FY26. Its consolidated net profit for the quarter stood at ₹16.6 Cr against a loss of ₹8.3 Cr in the year-ago quarter while its top line surged 45% YoY to ₹519.7 Cr. 

For the full fiscal year FY26, Smartworks posted a net profit of ₹10.5 Cr against a loss of ₹63.2 Cr in the previous fiscal year. Meanwhile, its operating revenue grew 31% YoY to ₹1,795.8 Cr.

The company’s shares ended the day at ₹469.15, 4.72% higher than previous to close the day. Its market capitalisation stood at ₹5,360.61 Cr ($566.53 Mn).

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