Shares of this workspace solution provider jumped over 5 percent to Rs.824 per share after Edelweiss set a target price indicating potential upside growth.
Price Movement
In Thursday’s trading session, Awfis Space Solutions‘ share price surged 5.3 percent to an intra-day high of Rs.824 per share from Rs.782.5 apiece. The price has since retreated and is currently trading at Rs.801.8 per share. Over the past three months, the stock has delivered impressive multi-bagger returns of 113 percent.
What happened
Edelweiss, a reputed financial advisor has set a target price of Rs.1,013.00 for Awfis Space Solution, indicating a potential upside of 26.34 percent from the current share price of Rs.801.8.
The firm has issued a “Buy” rating based on this target price, suggesting strong growth prospects for the stock. The recommendation reflects confidence in the company’s future performance and market position.
Extensive Network
As of June 2024, Awfis surpassed 1 lakh operational seats, adding a net of 5,368 seats and 9 new centers. Since June 2023, the company launched 48 new centers with 30,156 seats, expanding into 8 Tier 2 cities and 6 new micro-markets.
Business Diversification
Awfis offers a range of services including premium workspaces under “Awfis Gold,” integrated facility management with “Awfis Care,” and customized design solutions through “Awfis Transform.” These services are designed to enhance workspace experiences, optimize operations, and align environments with business objectives.
Shareholding Pattern
As per the June 2024 shareholding pattern, the promoters of Awfis Space Solutions Limited hold a 28.56 percent stake, while Foreign Institutional Investors hold a 22.54 percent stake.
Domestic Institutional Investors and Retail investors hold a stake of 13.54 percent and 35.36 percent, respectively in the company. Ashish Kacholia owns a 4.83 percent stake in Awfis Space Solutions Limited.
Financial Performance
In the latest financial update, the company reported net sales of Rs.257.74 crore for Q1 FY25, reflecting a significant 37.31 percent increase from Rs.187.7 crore in Q1 FY24. The company also achieved a net profit of Rs.2.79 crore, compared to a loss of Rs.8.31 crore during the same period last year.
Company Overview
Awfis Space Solutions Ltd. is a leading provider of flexible workspace solutions in India. The company offers a range of options, including co-working spaces, flexible desks, mobility solutions, and customized office spaces tailored to various business needs.
Written by – Siddesh S Raskar
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