The company has reduced gross debt by nearly 45% since the IPO.
CareEdge Ratings has upgraded Smartworks’ rating to ‘A; Stable’ from ‘BBB+; Positive’. Company has a total portfolio of 12.7 million sq. ft across 14 cities as of September 30, 2025.
During the quarter, Smartworks signed a 815,000 sq. ft. campus at Eastbridge, Mumbai – by Regalia Business Parks (Hiranandani Group). The signing makes Eastbridge the world’s largest managed office campus operated by any flex-space company globally.
GCCs now contribute 15% of total revenue and are expected to double their share over the next two years.
Non-IT sectors such as BFSI, consulting, manufacturing, and healthcare are also scaling rapidly, diversifying Smartworks’ demand base and strengthening long-term revenue visibility.
“Our Q2 performance reflects the strength and scalability of our managed campus model. With double-digit revenue growth, expanding margins, and a negative net-debt position, Smartworks continues to deliver profitable growth at scale,” said Neetish Sarda, founder and managing director, Smartworks.
Smartworks expects momentum to accelerate through the second half of FY26, supported by upcoming supply across key clusters in NCR, Mumbai, Pune, and Hyderabad. With full visibility on supply for FY27 and FY28 and sustained enterprise demand, the company remains on track to scale profitably while strengthening margins and cash generation.