Disclosure under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Presentation for ....
SMARTWORKS · price
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Smartworks Coworking Spaces disclosed presentation materials for an institutional investor meeting organized by Centrum Broking Ltd. The company is India's first listed flex workspace platform to cross 10 Msf operational, with 16.1 Msf total SBA across 66 centres in 15 cities including Singapore. FY26 revenue grew 31% YoY to Rs 17,958 Mn, with normalised EBITDA up 75% to Rs 3,144 Mn and normalised PAT at Rs 966 Mn (up 453% YoY). ROCE expanded from 7.3% to 16.0%, demonstrating transition from scaling to cash-compounding phase. The company has Rs 52,000 Mn+ contracted rental revenue with 90% from enterprise clients, 88% seat retention rate, and average client tenure of 47 months for large clients. Balance sheet is net cash positive at Rs 561 Mn with cost of borrowings under 9%. The flex market in India is projected to cross 100 Msf by 2027, with GCCs driving 40-50% of Grade A demand.
Strong operational execution with improving margins and ROCE, contracted revenue visibility of Rs 52,000 Mn+, and net cash position support a positive outlook. Enterprise-led model with long tenures provides revenue predictability, though investors should monitor lease liability mismatches and concentration in large-format buildings.