Smartworks Coworking Spaces Limited has informed the Exchange about Investor Presentation
Date: November 17, 2025
To, National Stock Exchange of India Limited (“NSE”) Listing Department Exchange Plaza, C-1 Block G, Bandra Kurla Complex Bandra [E], Mumbai – 400051
To, BSE Limited (“BSE”) Listing Department Corporate Relationship Department Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001
NSE Scrip Symbol: SMARTWORKS ISIN: INE0NAZ01010
BSE Scrip Code: 544447 ISIN: INE0NAZ01010
Dear Sir/Ma’am,
Subject: Disclosure under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015-Presentation for analyst and institutional investors meet to be held today at 04:30 P.M. (IST)
Dear Madam/ Sir,
Further to our letter dated 11th November, 2025 intimating about analyst and institutional investors meet on business performance of the Company, and in terms of the requirement of Regulation 30 read with Part A of Schedule III of the Listing Regulations, please find enclosed herewith the presentation to be made at the analyst and institutional investors meet scheduled to be held today at 04:30 P.M (IST) and the same is also being uploaded on the Company’s website at https://www.smartworksoffice.com/investors/ .
This is for your information and record.
Thanking You,
For Smartworks Coworking Spaces Limited
Punam Dargar Company Secretary & Compliance Officer Mem. 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
Workspaces that work for you Analyst Meet Nov’25
Smartworks: India’s #1 Managed Campus Platform
1
Supply Scaling Fastest Taking on entire/large campuses; adding 2.5-3 Mn sq ft each year
Total SBA1 | Leased SBA2
14 Msf | 10.3Msf
Total Centres1
City Presence
61 centres
14 Cities
2
3
Serving Enterprise Clients contributing ~90% revenue in Q2FY26
Operational SBA2
Capacity Seats1
Total Clients
Cost Leadership Lowest CAPEX and OPEX in the industry
4
Value Centric Pricing Value-for-Money offering to make product resilient in upturns & downturns
9.1 Msf
322k
760+
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Note: 1Total as on date, includes LOIs, under fitouts and centres yet to be handed over; 2As of Sep’25, Leased
Rich Cash Flows Predictable cash flows from durable, long-term enterprise clients with low vacancy risk
2
Our Platform connects Landlords, Clients, and Vendor Partners with amenity rich campuses delivering experience with efficiency
WHO WE PARTNER WITH…
WHO WE SERVE
Non-institutional Landlords
Enterprise Clients
One stop solution with guaranteed rentals
Flexible, Hassle-free offices in just 45 – 60 days
Vendor Partners
Client Employees
Access to assured footfalls & Projects
Access to World-class amenities
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Recreational Zone
Creche
Medical Room
IT Support
Community events & activities
Smart Parking
Gym
Smart Store
Gaming Zone
Training room
Smart Café
Smartworks Experience Ecosystem
24 X 7 secure access
Front desk support
Receptions
Utilities
Food ordering
High Speed Internet
Business address
Mail handling
Shared meeting facilities
Office cleaning
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Flex Spaces Dominate India’s Office Boom with GCCs becoming Primary Occupiers of Flex Spaces Across the Country
Cost advantages & talent pool are driving the influx of GCCs in India
~32%
22,881
17,380
FY23
FY24
GCCs occupy almost 200 Mn sq ft of Grade A office space across India’s Top 6 cities in 2024. 1
Managed spaces have grown the fastest – over 2.5X faster than flex1
Note: Market Intelligence ,Prospectus- CBRE report, JLL, Cushman & Wakefield report 1. GCC Dominates India’s Flex Office – CXO Today
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Our Distinct Supply Advantage
~24% supply from Institutional Developers
~76% of portfolio from Non- Institutional Landlords
“Now acquiring Greenfield Supply as well”
DLF Commercial Tower- A (Gurgaon) SBA: ~478K square feet Capacity seats: ~10K
M-Agile (Pune)
SBA: ~689K square feet
Capacity seats: ~14k
Smartworks Edge
Space Efficiency Taking on large campus - 800K sq ft+ vs Floors
Present Pan-India ~95% supply in Key Clusters
Landlord Repeatability Centers from Developers leasing multiple buildings
TATA Realty Intellion IT Park (Mumbai) SBA: ~557K square feet Capacity seats: ~14K
VTP (Bengaluru)
SBA: ~700K square feet
Capacity seats: ~19k
Leveraging Economies of Scale 15-20% rental savings
Sources: The above supply split are for leased SBA of 10.3 Mn sq ft as of 30th Sep-25
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Established a Pan-India ‘Smartworks’ Brand with Strong Supply Access at preferred terms
North
Total Area (Sq Ft)
% of total SBA
2.07 Mn
16.33%
Gurugram
Delhi
Noida
West
Total Area (Sq Ft)
% of total SBA
6.17 Mn
48.57%
Ahmedabad Indore
Mumbai
Pune
South
Total Area (Sq Ft)
% of total SBA
4.09 Mn
32.18 %
Hyderabad
Bengaluru
Chennai
Coimbatore
Kochi
Note: ~14 Msf total SBA supply visibility as on date
East
Total Area (Sq Ft)
% of total SBA
0.37 Mn
2.92 %
• Visibility for 100% FY26 and
Kolkata
Strong supply visibility of ~14 Mn including LOIs and under fitouts
FY27 Supply; Sourcing for FY28 underway
• Adding ~2.5-3 Mn Sq ft each year
• With steady supply expansion across quarters, our portfolio is now more evenly distributed across cities, reducing concentration risk.
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Raising the bar yet again — Introducing the world’s largest flexible workspace campus
Eastbridge (Mumbai) | SBA: 815k sq. ft. | Capacity seats: ~17k
Leadership of largest centres continues
Vaishnavi Tech Park | Bangalore | 700k sq.ft
M-Agile | Pune | 689k sq.ft
Commenting on the association, Mr. Niranjan Hiranandani, Founder & Chairman, Hiranandani Group said, “Our partnership with Smartworks for Eastbridge reflects a shared belief in the future of large, people-first campuses. Eastbridge is more than just a development; it symbolizes how design, sustainability, and scale can come together to create truly global-standard workplaces. Smartworks’ proven leadership and operational expertise make them the ideal partner to bring this vision to life.”
Source: Company data
AP 81 | Pune | 645k sq.ft
43 EQ | Pune | 613k sq.ft
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Predictable Revenue: Annuity-based income streams given Enterprise first model
Large, Multicity Enterprise Clients
High Rental Visibility
1000+ seats client bucket: 50+ months tenure
~90%
~81% | ~88%
Rental Revenue (Enterprise Clients)
Overall Occupancy Rate | Committed Occupancy Rate
~68%
Rental Revenue (for 300+ seat)
~32%
Rental Revenue (Multi-city clients)
85%
Seats Retention Rate
~49 months
Average Client Tenure (for 300+ seats)
~35% revenue contribution from clients with >1000-seats…& the cohort continues to grow
+23% points
35%
n
i
n o i t u b i r t n o C
e u n e v e R
l a t n e R
e u n e v e R
l a t n e R %
p o T f o n o i t u b i r t n o C
s t n e i l
C 0 1
12%
FY22
H1FY26
Reducing portfolio concentration risk
~39%
~20%
Note: Unless stated otherwise, all data is as of H1FY26 * A healthy churn from an overall portfolio perspective, as the re-leasing has seen higher realizations. Importantly, ~90% of revenue continues to come from enterprise clients with long tenures.
FY19
H1FY26
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Strong execution with Cost Leadership and tech enabled rapid scale up
INR 1,350 / sq ft Capex
Delivering Strong Execution Capability
Maintaining one of the lowest opex
Quick turnaround: 45-60 days
Tech enablement seamless delivery over ~10 Mn sq ft
Standardized designs
Modular and reusable fit outs
Cost Efficient sourcing strategy
10
Strong Centre-level Economics with strong occupancy ramp up and payback
Capex incurred >
1,350 / sq. ft
25-30% of the initial capex
+ 3 yrs
+ 5 yrs
T
T+1
Years >
Campus becomes operational
Centre matures
Payback
T+5
Client Renewal cycle
90%+
~60-70%
%occupancy>
T+10
90%+
Good unit economics X Scale = A True compounding business model
Source: Company estimates, Conceptual Slide
• Centers reach maturity within 12 months
•
90%+ occupancy maintained post- maturity, ensuring steady annuity and predictable revenue
• Payback achieved within 3 years
• Refurbishment costs at renewal (post 5 years) are minimal versus initial capex
• RoCE expands over time, supported by higher pricing from new clients and margin improvement
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Business Longevity and Derisked & Insulated Business – Making us a preferred partner even during Downturns
Asset Liability Mismatch Risk
Concentration Risk
Cyclical Risk
✓
Focus on mid-to-large enterprises drives longer lock- in periods and client retention
Typically not leasing > 30% space in a center1 to a single client
Pricing strategy to achieve rental revenue which is at least 2X rental expenses
Diverse client portfolio across sectors with IT/ITeS only ~40% of the portfolio
✓
No city Concentration Pan India Presence instead of any reliance on one city
Value Pricing ensures that Smartworks is a preferred partner even during Downturns
Long term agreements with landlords and clients
Source: Prospectus. Note: 1. Includes a center which is of over 0.15 Mn sq ft in size.
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Growth is Expected to Accelerate in H2 FY26, Driven by Three Key Factors
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Company
Investor Relations
investor_relations@sworks.co.in www.smartworksoffice.com
Mr Diwakar Pingle / Ms Runjhun Jain E:diwakar.pingle@in.ey.com/runjhun.jain1@in.ey.com T: +91 9833904971 / +91 9820720993
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