Co-working company Awfis’ revenues jumped 25% year-on-year (YoY), from 292 crore to Rs 367 crore, for the quarter ending September ‘25. This was due to sustained demand, healthy occupancy levels, and operational efficiency, the company said.
However, its net profit slid to Rs 16 crore in the quarter, from Rs 39 crore a year ago.
Total expenses during the quarter increased to Rs 377 crore from Rs 287 crore a year prior. A significant portion of this was due to depreciation and amortisation amounting to Rs 95 crore, subcontracting costs of Rs 56 crore, and other expenses of Rs 138 crore.
The company posted an Ebitda of Rs 132 crore, up 32% from last year, with the Ebitda margin expanding 36%.
“This momentum was driven by our ability to maintain high occupancy… coupled with strong traction from GCC and enterprise clients. We are now focussing on grade A buildings and premium locations to cater to GCCs, large enterprises, and other premium clients,” said chairman and managing director Amit Ramani during a post-earnings call on Tuesday.
According to Ramani, GCC transactions remain a key growth driver, contributing 32% to quarterly leasing growth and about 30% YoY.
“On the client side, we continue to enhance the experience through technology integration, design, and sustainable operations. The business now aims to expand beyond workplace design into new segments such as retail, hospitality, and institutional projects,” Ramani added.
The New Delhi-based company said that as of September 30 it had operations in 18 cities with 237 centres and 1,61,000 seats, covering a chargeable area of 8 million square feet. During the quarter, the company added 14,000 seats.
According to chief executive officer (CEO) Sumit Lakhani, the company has 26 premium workspaces across 21 gold centres and five elite spaces.
“Looking ahead, we have a pipeline of centres under fit-out, along with signed LOIs (letters of intent) for 22 new centres, which will add approximately 24,000 seats and 1.1 million square feet of chargeable area,” he said.
During Q4FY25, the company had elevated Lakhani from deputy CEO to CEO.
However, its net profit slid to Rs 16 crore in the quarter, from Rs 39 crore a year ago.
Total expenses during the quarter increased to Rs 377 crore from Rs 287 crore a year prior. A significant portion of this was due to depreciation and amortisation amounting to Rs 95 crore, subcontracting costs of Rs 56 crore, and other expenses of Rs 138 crore.
The company posted an Ebitda of Rs 132 crore, up 32% from last year, with the Ebitda margin expanding 36%.
“This momentum was driven by our ability to maintain high occupancy… coupled with strong traction from GCC and enterprise clients. We are now focussing on grade A buildings and premium locations to cater to GCCs, large enterprises, and other premium clients,” said chairman and managing director Amit Ramani during a post-earnings call on Tuesday.
According to Ramani, GCC transactions remain a key growth driver, contributing 32% to quarterly leasing growth and about 30% YoY.
“On the client side, we continue to enhance the experience through technology integration, design, and sustainable operations. The business now aims to expand beyond workplace design into new segments such as retail, hospitality, and institutional projects,” Ramani added.
The New Delhi-based company said that as of September 30 it had operations in 18 cities with 237 centres and 1,61,000 seats, covering a chargeable area of 8 million square feet. During the quarter, the company added 14,000 seats.
According to chief executive officer (CEO) Sumit Lakhani, the company has 26 premium workspaces across 21 gold centres and five elite spaces.
“Looking ahead, we have a pipeline of centres under fit-out, along with signed LOIs (letters of intent) for 22 new centres, which will add approximately 24,000 seats and 1.1 million square feet of chargeable area,” he said.
During Q4FY25, the company had elevated Lakhani from deputy CEO to CEO.
