Awfis Co-Working Solutions Achieves Record Growth in FY25

Awfis, a leading co-working solutions provider, has reported impressive financial results in the last quarter of FY25, showcasing a 47% year-on-year revenue increase and an eightfold rise in profit during the same timeframe. Awfis’ operational revenue climbed to Rs 340 crore in Q4 FY25, up from Rs 232 crore in Q4 FY24, as detailed in its unaudited consolidated financial statements submitted to the National Stock Exchange (NSE).

Financial Highlights for FY25

For the complete fiscal year (FY25), Awfis witnessed its operating revenue surging over 40% to reach Rs 1,208 crore. Notably, the firm turned profitable annually, reporting a profit of Rs 68 crore in FY25.

Revenue Composition

The income derived from co-working space rentals and related services comprised 79% of Awfis’s total operational revenue, which grew by 60% year-on-year to Rs 269 crore in Q4 FY25, rising from Rs 168 crore in Q4 FY24. Additional revenue sources included construction and fit-out initiatives, facility management, and food sales. Furthermore, Awfis secured other income amounting to Rs 18 crore in the quarter, elevating its total revenue to Rs 358 crore for Q4 FY25.

Company Overview

Established in 2015, Awfis provides tailored office spaces catering to startups, small and medium enterprises (SMEs), and large corporations. Their services extend beyond workspace solutions to encompass amenities like food and beverages, IT support, and infrastructure services.

Expense Analysis

Awfis reported a 45% year-on-year increase in total expenses, reaching Rs 347.5 crore in Q4 FY25, compared to Rs 240 crore in Q4 FY24. The largest expense category was depreciation and amortization, which constituted 23% of total expenses and increased by 60% to Rs 82 crore. Costs related to subcontracting and traded goods rose by 27% to Rs 66 crore, while employee benefit expenses decreased by 19% to Rs 29.5 crore. In contrast, finance costs surged by 79% to Rs 42.6 crore.

Profitability and Market Capitalization

The remarkable 47% year-on-year growth allowed Awfis to record a profit exceeding eight times year-on-year, amounting to Rs 11.2 crore in Q4 FY25, compared to Rs 1.4 crore in Q4 FY24. Awfis concluded the trading session at Rs 648.10 per share, resulting in a total market capitalization of Rs 4,599 crore (approximately $541 million).

Leadership Announcement

In conjunction with the Q4 FY25 results, Awfis announced that Sumit Lakhani has been promoted to Chief Executive Officer (CEO) from his previous position as Deputy CEO. Lakhani has been with Awfis since May 2015, initially serving as the Chief Marketing Officer (CMO).