This Ashish Kacholia stock, which deals in flexible workspace solutions and has a presence in more than 52 micro markets across 16 cities in India, was down 8 percent despite the company reporting a net profit from loss on a year-on-year basis.
Share Price Movement
With a market capitalization of Rs. 14,392.10 Crores, the shares of Awfis Space Solutions Limited were down by 7.90 percent in the day’s trade touching a day’s low of Rs. 616 per share.
The stock reiterated from the day’s low and was trading at Rs. 638.70 which is 4.51 percent lower than the previous closing price of Rs. 668.90 apiece. It has delivered a return of 53 percent which has outperformed the Nifty Index from the listing period.
Q3FY25 Financial Highlights
The company’s stock was in focus after reporting financial results for the quarter ending December 2024, Awfis Space Solutions’ consolidated revenue from operations has increased by 44 percent year on year from Rs. 220.64 crore in Q3FY24 to Rs. 317.72 crore in Q3FY25 and increased by 8.66 percent quarter on quarter from Rs. 292.38 crore in Q2FY25.
The company turned profitable in this quarter from a loss of Rs. 6.28 crore to a net profit of Rs. 15.17 crore in Q3FY25. As compared to Q2FY25, the company’s net profit has declined by 60.74 percent quarter on quarter from Rs. 38.67 crore.
Business Segments
They earned 76.60 percent of the operational revenue from Co-working space on rent and allied services, 23.04 percent from Construction and fit-out projects, and 0.34 percent from Others for the December 2024 quarter. Co-working space segment contributes a higher proportion to the operating profits, and despite an increase in construction segment revenue year on year, the profits declined.
Ace Investor Stake
Ashish Kacholia, an ace investor holds around 3.89 percent of the stake as of December 2024 and the stake declined from 4.77 percent from September 2024.
Occupancy and Diversification
The occupancy rate was 84 percent for the December quarter and the lock-in tenure increased from 24 months to 32 months for Q3FY25. The clients are diversified with the IT sector dominated at 44 percent, followed by professional services with 12 percent and consumer & durables with 9 percent. Around 66 percent is from corporations and 20 percent from SMEs as of the December 2024 quarter.
Company Overview
Awfis Space Solutions was founded in 2014 and is India’s largest flexible workspace provider, offering services from individual desks to customized offices. They operate in 16 cities with 169 centers and a capacity of more than 1,30,000 seats. Awfis also provides facility management and design services.
Written By Santhosh S
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