Coworking company Awfis reported a 20% year-on-year (YoY) surge in its operating revenue, at Rs 382 crore for the quarter ended December, up from Rs 318 crore in the year prior, driven by sustained demand across enterprise and GCC clients and capital-efficient expansion, the company said. Its total revenues came in at Rs 411 crore, against Rs 331 crore last year.
It reported a net profit of Rs 22 crore for the quarter, up from Rs 15 crore a year ago.
Its total expenses for the quarter increased to Rs 389 crore from Rs 317 crore a year earlier. A significant amount of the expenditure was attributed to depreciation and amortisation, which amounted to Rs 99 crore, subcontracting costs (Rs 49 crore), and other expenses (Rs 149 crore).
“Our coworking and allied service segments continue to grow , rising 32% on-year to Rs 322 crore and contributing 84% of the revenue. This was driven by our ability to maintain high occupancy levels thanks to strong traction from GCCs and enterprise clients,” said Amit Ramani, chairman and managing director, during a post-earnings call on Monday. The company's operating Ebitda rose 30% to Rs 139 crore.
In its earnings presentation, the New Delhi-based company said that as of December 31 it had operations in 18 cities, with 246 centres and 166,000 seats. The company added 10 new centres during the quarter.
“The construction and fit-out projects segment contributed Rs 60 crore during the quarter. Revenue there declined primarily due to temporary project deferrals and execution delays linked to GRAP IV restrictions, as well as lower managed seat addition during nine months of FY26 versus last year,” Ramani added.
According to Ramani, industry tailwinds remain favourable, supported by sustained office leasing momentum, increasing enterprise preference for flexible and managed workspace solutions, and continued expansion of GCCs across tier I and tier II markets.
Last month, the company’s chief financial officer (CFO) Ravi Dugar stepped down to pursue new career opportunities. The company has appointed Sumit Rochlani as its new CFO with effect from February 3. Rochlani previously served as Awfis’s head of finance for two years before moving to global aerospace firm Boeing in 2022.
Shares of the company closed on Tuesday down 0.36% at Rs 388.40 on the BSE.
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Its total expenses for the quarter increased to Rs 389 crore from Rs 317 crore a year earlier. A significant amount of the expenditure was attributed to depreciation and amortisation, which amounted to Rs 99 crore, subcontracting costs (Rs 49 crore), and other expenses (Rs 149 crore).
“Our coworking and allied service segments continue to grow , rising 32% on-year to Rs 322 crore and contributing 84% of the revenue. This was driven by our ability to maintain high occupancy levels thanks to strong traction from GCCs and enterprise clients,” said Amit Ramani, chairman and managing director, during a post-earnings call on Monday. The company's operating Ebitda rose 30% to Rs 139 crore.
In its earnings presentation, the New Delhi-based company said that as of December 31 it had operations in 18 cities, with 246 centres and 166,000 seats. The company added 10 new centres during the quarter.
“The construction and fit-out projects segment contributed Rs 60 crore during the quarter. Revenue there declined primarily due to temporary project deferrals and execution delays linked to GRAP IV restrictions, as well as lower managed seat addition during nine months of FY26 versus last year,” Ramani added.
According to Ramani, industry tailwinds remain favourable, supported by sustained office leasing momentum, increasing enterprise preference for flexible and managed workspace solutions, and continued expansion of GCCs across tier I and tier II markets.
Last month, the company’s chief financial officer (CFO) Ravi Dugar stepped down to pursue new career opportunities. The company has appointed Sumit Rochlani as its new CFO with effect from February 3. Rochlani previously served as Awfis’s head of finance for two years before moving to global aerospace firm Boeing in 2022.
Shares of the company closed on Tuesday down 0.36% at Rs 388.40 on the BSE.
