Smartworks Coworking Spaces Limited (SMARTWORKS) announced its financial results for the quarter ended September 30, 2026 (Q2 FY27), delivering another quarter of strong growth in revenue and profitability. The company’s 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.

Q2 FY27 Performance Overview

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 the upper band and its target of adding 2.5–3 million sq. ft. annually.

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.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Smartworks Coworking Spaces Limited

Smartworks Coworking Spaces Limited belongs to the Real Estate › Real Estate Services sector. Here’s a quick read on where the business and the stock stand today.

Smartworks posts a 2.4% three-month gain, but softens in the last few weeks. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. No meaningful dividend — total return is entirely dependent on capital appreciation. RSI stands at 30, well into oversold territory. Yet sellers still dominated on 20 of recent sessions versus 10 for buyers, so the pressure has not fully lifted. Revenue grows at 36.2% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Smartworks Coworking Spaces Limited.

Kalpataru Limited (NSE: KALPATARU) has reported a resilient performance for the quarter and half year ended 30th September 2026. The company achieved pre-sales of ₹1,258 crore and collections of ₹1,189 crore in Q2 FY27, while H1 FY27 pre-sales stood at ₹2,587 crore and collections reached ₹2,554 crore, marking a healthy 9% year-on-year growth in collections. Commenting on the results, Mr. Parag Munot, Managing Director, Kalpataru Limited, said: ‘We delivered a resilient performance during Q2 and H1 FY27, reflecting the strength of our brand, execution capabilities, and continued demand across our key markets.’

Operational Highlights

During the quarter, the company launched Kalpataru Elaara in Goregaon West, Mumbai, a premium residential development offering well-designed 2, 3, and 4-bedroom residences along with an extensive range of lifestyle amenities. The project further strengthens our presence in one of Mumbai’s key residential micro-markets, benefiting from strong connectivity and proximity to established social infrastructure.

Financial Performance

For Q2 FY27, revenues from operations stood at ₹437 crore, adjusted EBITDA at ₹73 crore, and profit after tax (PAT) at ₹(71) crore. For H1 FY27, revenues from operations stood at ₹909 crore, adjusted EBITDA at ₹167 crore, and PAT at ₹(100) crore. The company has completed more than 2,200 units totaling ~2.37 msf in H1 FY27. This performance underscores our focus on disciplined execution, customer engagement, and cash flow generation. As we move forward, we remain focused on expanding our portfolio in high-potential markets, enhancing operational efficiencies, and delivering superior value to our customers and stakeholders.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Kalpataru Limited

Kalpataru Limited belongs to the Real Estate › Real Estate – Development sector. Here’s a quick read on where the business and the stock stand today.

Kalpataru trades in the lower quarter of its 52-week range. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 3 loss quarters over five years is a serious red flag — earnings quality is poor and recovery is not guaranteed. The stock gains 2.3% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at -3.2% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of Kalpataru Limited.

Brigade Enterprises Limited (BRIGADE) reported a robust performance for Q2 FY27, with total income reaching ₹ 1,250 crores, a decline from ₹ 1,430 crores in Q2 FY26. However, the company saw a significant surge in profit before tax (PBT), growing 47% year-on-year to ₹ 288 crores. This growth was driven by strong momentum in the real estate segment, which recorded sales of ₹ 1,827 crores across 1.3 million square feet volume.

Real Estate Segment Performance

The real estate division was the main driver of the company’s growth, with revenue of ₹ 760 crores, contributing to a 59% increase in EBITDA to ₹ 175 crores. The segment launched 2.4 million square feet of projects during the quarter, with a gross development value (GDV) of approximately ₹ 3,000 crores.

Leasing and Hospitality Segments

The leasing segment also performed well, with revenue of ₹ 329 crores and EBITDA of ₹ 242 crores, marking a 9% increase year-on-year. Hospitality revenue stood at ₹ 161 crores, with EBITDA rising 41% to ₹ 59 crores. Occupancy in the leasing segment stood at 90% as of September 2026.

Pavitra Shankar, Managing Director of Brigade Enterprises Limited, highlighted the positive momentum across all businesses. He noted that residential projects continue to drive growth, supported by sustained demand and a strong project pipeline. Shankar emphasized the company’s commitment to delivering sustainable, long-term growth with a diversified portfolio spanning residential, commercial, retail, hospitality, and warehousing sectors.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Brigade Enterprises Limited

Brigade Enterprises Limited belongs to the Real Estate › Real Estate – Development sector. Here’s a quick read on where the business and the stock stand today.

Brigade rises 42.5% over three months, with buying pressure holding steady. The PEG of 0.36 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Revenue grows at 24.0% and profits at 89.0% CAGR. Both numbers are exceptional. Buyers show up with 1.9x the volume of sellers. Moreover, they dominated on 16 of recent sessions versus 14 for sellers — a healthy accumulation pattern. Both the business and the stock move in the right direction. Revenue grows at 24.0%, profits at 89.0%, and the PEG sits at 0.36 — below its growth rate. That combination is rare. Check Fundamentals of Brigade Enterprises Limited.