Awfis Space Solutions Limited — Updates, 11-02-2025: Press Release

Awfis Space Solutions Limited reported a strong performance for the quarter and nine months ended December 31, 2024, with operational revenue soaring 44% year-on-year to Rs. 318 crores. The company achieved a noteworthy operational EBITDA growth of 59%, reaching Rs. 107 crores, translating to an EBITDA margin of 33.8%, reflecting a ~320 bps improvement compared to the previous year. Over the last nine months, operational revenue stood at Rs. 868 crores, marking a 41% growth, with a reported profit after tax (PAT) of Rs. 32 crores, a significant recovery from the loss of Rs. 19 crores in the same period last year.

Operationally, Awfis added approximately 27,000 seats and 33 centers since March 2024, bringing the total to 120,000 operational seats across 193 centers. The company's focus on asset-light growth is evident, with 73% of new seat additions under the Managed Office model. Notably, Awfis has launched its first center in Lucknow, tapping into the city’s growth potential. The positive outlook on revenue growth, expanding market presence, and service offerings positions Awfis favorably for future opportunities.