Smartworks Coworking Spaces Limited has informed the Exchange about Investor Presentation
SMARTWORKS · price
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Awaiting price reaction for this filing.
Smartworks Coworking Spaces shared an investor presentation ahead of an analyst meeting on Feb 12, 2026, highlighting Q3 FY26 results. Revenue grew to INR 472 Cr (+11% QoQ, +34% YoY) with Normalized EBITDA of INR 85 Cr at a 17.9% margin, up 150 bps QoQ. The company reported its first-ever Ind AS PAT positive quarter at INR 1 Cr, with Normalized PBT of INR 40 Cr (+65% QoQ). The platform now spans 63 centers across 15 cities with 15.3 Msf total area and 355k capacity seats, achieving 84% overall and 92% committed occupancy. Supply visibility is strong with 100% FY27 and ~85% FY28 already sourced, while 2.4 Msf of footprint is set to mature in FY27, which management flagged as embedded margin expansion. Balance sheet is net cash positive (Net Debt: INR -42 Cr), cost of borrowings fell below 9% (down 180+ bps YoY), and credit rating was upgraded to BBB+ Positive.
Positive for shareholders: margin expansion, first GAAP profit, net cash position, and strong forward supply visibility signal improving fundamentals. The credit rating upgrade and cost of capital reduction could support further re-rating.