Awfis Space Solutions Limited — Updates, 11-11-2024: Press Release

Awfis Space Solutions Limited has reported a strong operational performance for the quarter and half-year ending September 30, 2024, with a notable 40% year-on-year revenue growth, reaching ₹292 crores. This impressive growth is attributed to the expansion of occupancy levels and the addition of new operational seats. Operational EBITDA also surged by 67% to ₹100 crores, translating to a robust EBITDA margin of 34.3%, up 550 basis points from the previous year. The company has now crossed 110,000 operational seats across 180 centers, and it continues to expand into Tier II cities, having launched operations in Guwahati.

Awfis has reported a cash EBIT of ₹52 crores for Q2FY25, up 115% from the same quarter last year. Looking towards future growth, the company aims to add 135,000 operational seats by March 2025. The launch of the Awfis Elite Center in Hyderabad marks a new standard in luxury coworking spaces, aligning with their strategic initiative to innovate and meet client needs in the evolving workspace landscape. Investors should note the positive outlook based on these robust financials and growth strategies.