Smartworks Seeks 30 Percent Revenue Growth in FY27 Amid Flexible Workspace Demand

Smartworks Expects 28-30% Revenue Growth in FY27

Managed workspace operator Smartworks is anticipating a revenue growth of 28-30 percent in FY27, driven by strong enterprise demand, secured supply additions, and a contracted rental revenue base of around Rs 5,200 crore. According to company executives, nearly 82.5 percent of its projected FY27 revenue is already locked in through long-term enterprise agreements, providing visibility on future cash flows amid continued demand for managed office campuses.

Smartworks has secured 100 percent of its planned supply for FY27 and has strong visibility on supply for FY28, positioning the company to benefit from tight office market conditions and rising demand for flexible enterprise workspaces. The company's contracted revenue base and supply pipeline provide higher predictability compared to previous years, according to Harsh Binani, co-founder of Smartworks.

Smartworks expects its operational portfolio to expand to around 12.5-13 million square feet (msf) in FY27, up from 10.1 msf at the end of FY26. The company's FY26 performance reflected gains from portfolio scale, operational maturity, and execution efficiency. Demand growth continues to be driven by large multi-city campus mandates from enterprises as well as expansion requirements from existing clients.

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India's managed office and flexible workspace sector has seen sustained growth over the past few years, driven by hybrid work models, cost optimisation by corporates, and rising demand for fully managed campuses from large enterprises and global capability centres (GCCs). Supply constraints in Grade A office developments across key markets such as Bengaluru, Pune, Hyderabad, and NCR are also benefiting large managed workspace operators with established portfolios and enterprise relationships.

In FY26, Smartworks posted revenue from operations of Rs 1,796 crore for the year ended March 31, up 31 percent from Rs 1,372 crore a year earlier. It reported a net profit of Rs 11 crore, compared with a loss of Rs 63 crore in FY25, the company had said in a regulatory filing on April 30.