The shares of this smallcap company gained up to 8 percent after the company signed the largest managed aggregation deal of 3 lakh Sq. Ft with Nyati Group.
With a market capitalization of Rs 5,441.81 crore, the shares of Awfis Space Solutions Ltd were trading at Rs 783.00 per share, increasing around 0.47 percent as compared to the previous closing price of Rs 766.90 apiece.
Reason For Rise:-
According to the exchange filing, Awfis Space Solutions Ltd has teamed with Nyati Group for an additional 3 lakh square feet of Grade-A workspace. This partnership is the largest under the Managed Aggregation (MA) Model, increasing our current MA model portfolio and considerably expanding Awfis’ footprint in Pune.
Furthermore, as part of this agreement, Awfis will provide premium flexible workspaces in Nyati Group’s major commercial buildings, Nyati Empress in Viman Nagar and Nyati Enthral in Kharadi. This successful partnership will result in 1,67,206 square feet of extremely desirable office space in these two strong commercial areas.
Financial performance:-
Looking forward to a company’s financial performance, revenue zoomed by 37 percent from Rs 187.70 crore in Q1FY24 to Rs 257.74 crore in Q1FY25, during the same time frame, the company’s net profit jumped by 133 percent from a loss of Rs 8.31 crore to a profit of Rs 2.79 crore.
Prominent Investor:-
Ace investor Ashish Kacholia holds 33,51,321 shares, i.e. equivalent to 4.83 percent of the company as of June 2024.
Footprint & expansion goal:-
Awfis Space Solutions is the largest flexible workspace solutions company with a presence in 52 micro markets across 16 cities in India. It had 169 centers with 105,258 total seats and a total chargeable area of 5.33 million square feet (msft).
The firm now operates in nine Tier 1 and seven Tier 2 cities, with aspirations to grow into high-demand micro-markets inside Tier 1 cities. It also plans to penetrate additional Tier 2 cities including Lucknow, Guwahati, and Vijayawada. It also plans to renovate workplaces in top micro-markets in Tier 1 cities.
Company’s Profile:-
Awfis Space options offer a wide range of flexible workspace options, from individual flexible desk needs to customized office spaces for startups, small and medium-sized businesses, major organizations, and multinational corporations.
Written by:- Abhishek Singh
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