Press Release

Date: 30th October, 2026 To, To, National Stock Exchange of India Limited (“NSE”) BSE Limited (“BSE”) Listing Department Listing Department Exchange Plaza, C-1 Block G, Bandra Kurla Complex Corporate Relationship Department Bandra [E], Mumbai – 400051 Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 NSE Scrip Symbol: SMARTWORKS BSE Scrip Code: 544447 ISIN: INE0NAZ01010 ISIN: INE0NAZ01010 Subject: Media Release Un-Audited (Standalone & Consolidated) Financial Results for the quarter and half year ended September 30, 2026 – Titled: Smartworks Raises FY27 Revenue Growth Guidance after Strong Q2 FY27 Performance - Revenue grows 39% YoY to ₹591 crore; Normalised EBITDA rises 68% YoY to ₹117 crore; Normalised PAT more than doubles to ~₹43.4 crore, up 136% YoY Dear Sir/Ma’am, In continuation of our letter of today's date on the Un-Audited (Standalone & Consolidated) Financial Results for the quarter and half year ended September 30, 2026, we attach a copy of Media Release being issued by the Company in this regard. The Un-Audited (Standalone & Consolidated) Financial Results for the quarter and half year ended September 30, 2026, approved by the Board of Directors and the Media Release thereon are also available on the website of the Company at https://www.smartworksoffice.com/investors/. We request you to kindly take this on your record and oblige. Thanking you, For Smartworks Coworking Spaces Limited Punam Dargar Company Secretary & Compliance Officer Membership No.: A56987 Address: Unit No. 305-310, Plot No 9, 10 & 11 Vardhman Trade Centre Nehru Place, South Delhi, Delhi, Delhi, India, 110019 Encl.: As above Smartworks Coworking Spaces Limited (Formerly known as Smartworks Coworking Spaces Private Limited) Regd. Office: Unit No. 305 – 310, Plot No. 9,10, & 11, Vardhman Trade Centre, Nehru Place, South Delhi – 110 019. Corporate Office: DLF Commercial Building, Block - 3, Zone-6, DLF Phase – 5, Gurugram, Haryana-122002 Phone No: 0124-6919 400 CIN: L74900DL2015PLC310656 Smartworks Raises FY27 Revenue Growth Guidance after Strong Q2 FY27 Performance Revenue grows 39% YoY to ₹591 crore; Normalised EBITDA rises 68% YoY to ₹117 crore; Normalised PAT more than doubles to ~₹43.4 crore, up 136% YoY The only listed flex player to post six consecutive quarters of sequential revenue and margin growth with ~360 bps expansion • FY27 revenue growth guidance revised upward to 33–35% from 28–30%, backed by strong enterprise demand and a growing pipeline of large deals • Contracted rental revenue increased to ~ ₹5,800 crore, driven by expansions from existing clients and new enterprise wins • Total footprint reaches ~17.5 million sq. ft. across 71 centres, with two of the world’s largest campuses, Eastside in Pune and Eastbridge in Mumbai scheduled to become operational in H2 FY27 Gurugram, October 30, 2026: Smartworks Coworking Spaces Limited (“Smartworks” or “the Company”), India's largest managed office platform by overall footprint, today announced its financial results for the quarter ended September 30, 2026 (Q2 FY27), delivering another quarter of strong growth in revenue and profitability. Revenue from operations grew 39% year-on-year to ₹591 crore, marking the Company's sixth consecutive quarter of sequential revenue growth since listing. Normalised EBITDA increased 68% year-on-year to ₹117 crore, with margins improving to 19.8%, while normalised profit after tax more than doubled to ₹43.4 crore. Backed by a strong first-half performance, sustained demand and a growing pipeline of large deals, Smartworks has raised its FY27 revenue growth guidance to 33–35%, from the earlier 28–30%. The Company has maintained its normalised EBITDA margin guidance of 19–20% trending towards upper band and its target of adding 2.5–3 million sq. ft. annually. Q2 FY27 Performance Overview • Revenue from operations: ₹591 crore, up 39% year-on-year and 8% QoQ. • Revenue from GCC clients contributes ~22% of rental revenue. • Normalised EBITDA: ₹117 crore, up 68% year-on-year, with margins improving to 19.8% from 16.4% a year ago. • Normalised profit after tax: ₹43.4 crore, up 136% year-on-year. • Normalised operating cash flow: ₹107 crore, up 74% year-on-year. • Annualised normalised ROCE: 21.6%, compared with 13.6% a year ago. • Contracted rental revenue: ~ ₹5,800 crore, providing strong visibility into future revenue. H1 FY27 Performance Overview • Revenue from Operations: ₹1,138 crore, up 41% YoY • Normalised EBITDA: ₹224 crore; margin at ~19.7% • Normalised Operating Cash Flow: ₹202 crore Management Commentary Commenting on the Q2 FY27 performance, Neetish Sarda, Founder & Managing Director, Smartworks, said: “We have delivered a strong performance in the first half and are tracking well ahead of the plan we set for FY27. This quarter, revenue grew 39% and normalised profit after tax more than doubled over last year, even as we invested through our heaviest expansion phase - and on the back of this, we have raised our full-year revenue growth guidance. It reflects what we have always believed: at scale, our growth and profitability compound together. We are seeing sustained demand translate into growth. Existing clients are expanding with us across cities, while new global businesses, Indian conglomerates and GCCs are choosing our platform for their infrastructure needs. Our increasingly diversified client portfolio and growing pipeline of large deals reinforce the strength of our business model. As large corporates expand across cities, they increasingly want the flexibility to grow teams, enter new markets and become operational quickly, without the complexity of building offices themselves - and large- format managed campuses are emerging as their preferred choice. We continue to add campuses in prime locations across key business markets creating the capacity for corporates to scale and grow. As the only listed flex player to post six consecutive quarters of sequential revenue and margin growth, with margins expanding ~360 bps, we have shown our ability to convert this demand into consistent financial performance. With our scale, developer partnerships and the category we have built, Smartworks is driving the next phase of growth in flexible, managed workspaces in India.” Q2 FY27 Operational Highlights • The total footprint reached ~17.5 million sq. ft. across 71 centres, including signed and upcoming properties. • Operational footprint increased to ~10.9 million sq. ft. • Mature centres maintained occupancy of ~88%, while committed occupancy stood at ~91%. • Singapore operations expanded to four centres with ~1,600 seats. • Two of the Company's and the world’s largest managed office campuses, Eastside, ~863,000 sq. ft in Pune and Eastbridge, ~ 815,000 sq. ft. in Mumbai, are scheduled to become operational in the second half of FY27. Enterprise Demand Drives Continued Growth Smartworks continued to witness strong demand from large enterprises, with existing clients expanding their presence across campuses and new clients choosing its managed office platform. Enterprise clients contribute ~91% of rental revenue. Clients occupying more than 1,000 seats now account for ~ 41% of rental revenue, up from 35% a year ago, while multi-city clients contribute ~35%, compared with 31% in Q2 FY26. This reflects the growing scale of enterprise relationships and continued expansion by existing clients. The Company also continues to see growing demand from Global Capability Centres (GCCs), which account for ~ 22% of rental revenue. Smartworks caters to a diverse client base comprising Fortune 500 and Forbes Global 2000 companies, Global Capability Centres (GCCs), leading Indian conglomerates and high-growth startups. Through its large-format, fully managed campuses, the Company enables enterprises to establish, operate and expand their offices across key business markets, offering flexibility, scalability and a consistent workplace experience while allowing them to focus on t [Showing first 8,000 characters — download PDF for full document]