Smartworks Coworking Spaces Ltd

Board approvals

• Appointment of Dilip Deshmukh as Non-Executive Independent Director for 5-year term, subject to shareholder approval.
• Appointment of Rajeev Krishnamuralilal Agarwal as Non-Executive Independent Director for 5-year term, subject to shareholder approval.
• Directors are not debarred from holding office by SEBI or any other authority.
• Reduction of Securities Premium to offset accumulated losses; SP balance ₹7,982,214,923 as of 31-Mar-2026.
• Proposed reduction amount ₹3,856,176,525; residual SP balance ₹4,126,038,398; subject to special resolution and NCLT.
• No change in issued, subscribed or paid-up capital; no cash payment to shareholders.
• Board meeting held on 24-Aug-2026, 03:30–04:25 IST.

Key update

• Announces ~INR 235 crore incremental contracted rental revenue from enterprise expansions.
• Base contracted rental revenue stands at ~INR 5,400 crore as of June 30, 2026.
• Expansion mandates include Fortune 500, Forbes 2000, and large Indian conglomerates.
• Leasing tenures of up to 60 months across multiple cities.
• Total secured footprint ~16.9 million sq ft across 70 centres in 15 cities.
• Expansion pipeline secured for FY27 and FY28, with partial FY29.

Capacity expansion in Pune

• Capacity addition: ~176,285 sq ft added to Pune operations.
• Existing capacity: 14.5 million sq ft leased, 10.4 million sq ft operational.
• Proposed capacity addition timeframe: within August 2026.
• Investment required: up to INR 28 crores (approx.).
• Financing: internal accruals, issue proceeds, or external debt.
• Rationale: capacity expansion to support business growth and footprint.

ESOP Allotment Update

• Board approved allotment of 119,000 equity shares under ESOP 2022 on 14 August 2026.
• Issued paid-up capital now Rs. 1,14,38,10,760 comprising 11,43,81,076 shares of Rs. 10.
• In-principle approvals from NSE and BSE obtained for ESOP shares.

LTTS expansion details

• Expansion adds over 1,100 Pune seats under LTTS engagement.
• Total LTTS managed seats with Smartworks now exceed 2,750.
• Combined expected rental revenue from these locations is INR 115 crore.
• Pune expansion accounts for about INR 55 crore over 60 months.
• The expansion reinforces Smartworks' leadership in large-format enterprise workspace.
• Notably, LTTS expansion contributes to Smartworks' multi-city footprint.
• Clients with over 1,000 seats contribute about 37% of total rental revenue.
• Enterprise clients account for roughly 90% of total revenue.
• Company listed on NSE and BSE on 17 July 2025.

Jaipur capacity expansion

• Existing capacity: 13.7 million sq ft leased; 10.1 million sq ft operational.
• Capacity utilization at 82% (operational capacity).
• Proposed capacity addition of ~247,000 sq ft.
• Timeline: addition to be completed within July 2026.
• Investment: INR 35 crores; funded via internal accruals and issue proceeds.
• Rationale: capacity expansion to support growth and footprint.

Meeting Details

• Date and time: July 22, 2026 at 4:00 pm IST.
• Type and mode: group earnings call, virtual teleconference.
• Organizer: Ambit Capital.

Participants

• Company representatives include MD, Executive Director, CFO, Chief Business Officer, and Chief of Strategy & Investor Relations.
• Moderated by Karan Khanna of Ambit Capital.

Purpose

• Purpose: Q1 FY27 performance and business updates.

Expansion details

• Leases 930 seats in Pune to Indian subsidiary of a UK firm.
• 60-month engagement; committed rental revenue ~INR 58 crore; combined ~INR 102 crore.
• Total Smartworks seats rise to 1,730 with this expansion.

Operational footprint & profile

• Footprint at 16.1 million sq ft across 66 centres in 15 cities (India, Singapore).
• 770+ clients including Fortune 500s; >90% revenue from enterprise clients.
• Average tenure for 300+ seat clients ~47 months; multi-city clients ~31% of revenue.

Meeting Details

• Board meeting scheduled for July 22, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter ended June 30, 2026, with limited review.
• Hold Investor/Analyst meet post-board to discuss results on July 22, 2026; details to be intimated.

Other Notes

• Trading window closed; will reopen 48 hours after results declaration.

Dematerialisation status

• Dematerialisation requests during the reporting quarter were processed and confirmed to the depositories.
• Securities dematerialised have been listed on the stock exchanges where the previously issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• Depository's name has been substituted as registered owner in the records within prescribed timelines.