• Financial performance: In Q1 FY26, revenue increased 44% year-on-year and cash EBITDA rose 74%, driven by committed mature center occupancy exceeding 92% and 1,000+ seat enterprises generating 41% of revenue.
• Growth guidance: Smartworks reaffirmed its full-year revenue growth guidance of 28–30%, supported by more than 3 million square feet under construction scheduled to hit the market in the fourth quarter.
• Unit economics: Center build-out capex ranges between ₹1,400 and ₹1,450 per square foot with an ROCE above 21%, achieving full payback within 3 to 3.5 years against an average client lease tenure of nearly 50 months.
• GCC demand: GCCs account for 21% of total portfolio share and 40–45% of new revenue, helping lower the IT/ITES share to under 30% through diversification into BFSI, consulting, and engineering clients.
• International operations: Singapore operations doubled their footprint within one year and are self-funding regional expansion in Southeast Asia entirely through local cash generation without capital transfers from India.