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Smartworks Coworking Spaces Ltd reported a significant reduction in its consolidated net loss during the past quarter, supported by strong revenue growth and operational efficiency. The company's total income rose substantially compared to the same period last year, reflecting the success of its managed campus model. Founder and Managing Director Neetish Sarda said the performance underscored the scalability and profitability of Smartworks' business approach. The firm continues to strengthen its pan-India presence alongside international operations in Singapore.
Smartworks Coworking Spaces Ltd has reported a narrower consolidated net loss of INR 3.13 crore in the second quarter of the current financial year, compared to INR 15.82 crore in the same period last year. The company attributed the improvement to higher operational income and effective management of its growing business portfolio, despite increased expenses during the quarter. Advertisement
According to the company's recent regulatory filing, total income rose by 22 per cent to INR 441.06 crore in the July-September quarter, compared to INR 360.84 crore in the corresponding period of the previous year. Founder and Managing Director Neetish Sarda mentioned that the company's second-quarter results highlighted the strength and scalability of its managed campus model. He noted that Smartworks achieved double-digit revenue growth, improved margins, and maintained a negative net-debt position, enabling profitable growth at scale.
Smartworks leases office spaces from real estate developers to establish large, managed campuses that are sub-leased to both domestic and international corporations. The company currently operates across 14 cities in India and Singapore, managing 12.7 million sq ft of office space and over 235,000 seats as of the end of the September quarter.
Smartworks' performance in the recent quarter reflects its growing operational maturity and success in scaling its managed office solutions model. The company's strategic focus on flexible workspace management and efficient leasing continues to yield positive outcomes, narrowing losses while boosting overall revenue. With a strong presence across key Indian cities and Singapore, Smartworks appears well-positioned to sustain its growth trajectory in the evolving commercial real estate segment.
Source - PTI
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