Awfis Q1 Profit More Than Doubles To ₹24 Cr, Revenue Up 27% YoY

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Coworking space provider Awfis’ net profit jumped 140% YoY to ₹24 Cr in the June quarter of FY27 from ₹10 Cr in the same quarter last year. Sequentially, the PAT increased 3.4% from ₹23.2 Cr. Awfis’ operating revenue for the quarter under review stood at ₹424.9 Cr, up 26.9% YoY from ₹334.7 Cr in Q1 FY26. On a quarterly basis, the operating revenue increased 3.6% from ₹410.1 Cr in Q4 FY26. Looking deeper into how the company earned its revenue, it registered ₹351.5 Cr from charging rent and offering allied services to occupants of its workspaces. A further ₹73.4 Cr came from its Transform vertical, which offers construction and fit-out solutions, delivering 25% YoY growth. With other income of ₹24 Cr, total income for the quarter stood at ₹448.9 Cr. Meanwhile, Awfis' total expenses for the quarter ₹424.5 Cr. Meanwhile, the company’s EBITDA profitability continued to improve, jumping 28% to ₹162 Cr from ₹127 Cr in the year-ago period, representing an EBITDA margin increase of four basis points to 38.2%. “With a differentiated pan-India network, a growing portfolio of premium Gold and Elite centres, strong managed office capabilities, and integrated workplace solutions under one roof, Awfis is well positioned to capitalize on the growing demand for flexible workspaces across India,” Awfis’ MD and chairperson Amit Ramani said. Besides announcing the quarterly financial results, the board of directors reappointed Protiviti India Members Pvt Ltd as its statutory auditor, and recommended the nomination of Abhishek Poddar, MD of MB Group, as a non-executive independent director. Diving into the operating metrics, Awfis added seven new centres and over 5000 seats during the quarter and said it has plans to add eight more centres and over 7,000 seats in the next quarter. To note, the company exited around 1,800 seats across 3 centres during the June quarter. Awfis’ total supply now stands at 8.4 Mn sq ft and 170K seats across 251 centres, with its footprint reaching across 18 Tier-1 and Tier-2 cities. Furthermore, its efforts to capture the growing demand for flexible workspaces from global capability centres (GCCs) has borne fruit as its 100+ GCC clients now contribute 24% of its rental revenue. Meanwhile, the company said Awfis Transform is becoming a full-fledged growth engine, noting that 92% of its business now comes from third parties rather than merely being a captive fit-out arm. The vertical has already won over ₹200 Cr in mandates, it claimed. Shares of Awfis ended today's trading session 0.57% lower at ₹271.75 apiece on BSE.

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