Shares of this workspace solution provider surged 4.2 percent on Tuesday after the company reported a 1,290 percent YoY increase in net profit, along with strong revenue growth in its latest quarterly results.
Price Movement
In Tuesday’s trading session, the share price of Awfis Space Solutions reached an intra-day high of Rs.810.00 per share, rising 4.2 percent from its previous close of Rs.777.45 apiece. Over the past six months, the stock has gained more than 80 percent.
Rationale for the Rise
Awfis Space Solutions saw a strong surge in its stock price, driven by significant growth in both revenue and net profit for the latest quarter. For Q2 FY25, the company reported an 18 percent rise in revenue, reaching Rs.292 crore, up from Rs.208 crore in Q2 FY24. Sequentially, revenue grew by 5 percent from Rs.258 crore in Q1 FY25.
The company reported a turnaround in net profit to Rs.38.6 crore in Q2 FY25 from net loss of Rs.4.3 crore in Q2 FY24 and reported an exceptional YoY 1,288 percent increase from net profit of Rs.2.78 crore in Q1 FY25.
Recent Developments
Awfis Space Solutions Limited has secured a mandate to design, build, and manage over 1.65 lakh sq. ft. of office space for the National Stock Exchange (NSE) at Adani Inspire in Bandra-Kurla Complex (BKC), Mumbai. This agreement highlights Awfis’ ability to deliver customized, high-quality workspace solutions that focus on both business needs and employee well-being.
Management Commentary
Mr. Amit Ramani, Chairman and Managing Director of Awfis Space Solutions, commented, “ We are thrilled to announce this collaboration which reaffirms our leadership in the flex space sector and strengthens our commitment to meeting the unique needs of clients from diverse industries. As the demand for flex spaces continues to grow across India, Awfis is well-prepared to meet this rising need with scalable solutions designed to support both immediate growth and long-term strategic goals, ensuring that companies have the space and flexibility to thrive in today’s dynamic business environment.”
Segment Revenue
The company reported segment revenues as Rs.2,183.18 crores from co-working space on rent and allied services, Rs.681.52 crores from construction and fit-out projects, and Rs.59.14 crores from other activities.
Shareholding Pattern
As per the September 2024 shareholding pattern, the promoters of Awfis Space Solutions Limited hold a 28.24 percent stake, while Foreign Institutional Investors hold a 20.66 percent stake. Domestic Institutional Investors and Retail investors hold a stake of 20.81 percent and 30.28 percent, respectively in the company. Notable ace investor, Ashish Kacholia owns a 4.77 percent stake in Awfis Space Solutions Limited.
About the Company
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 customised office spaces tailored to various business needs.
Written by – Siddesh S Raskar
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