Awfis Space Solutions is a leading provider of flexible workspaces in India, catering to the rising demand for shared office spaces. With the growing trend of remote work, startups, freelancers, and even large corporations are increasingly opting for cost-effective, collaborative environments instead of traditional office spaces. This trend is further fueled by the need for businesses to remain agile and scalable in an uncertain economic landscape.
Awfis, alongside competitors like WeWork, 91Springboard, and Innov8, is well-positioned to capitalize on the expanding demand for flexible office solutions. As the hybrid work model becomes more prevalent, the shared workspace sector in India is set to witness significant growth, offering vast potential for companies to expand their footprints across urban and emerging markets in the coming years.
Share Price
The shares of Awfils Limited are currently trading at Rs. 687.4 up by 0.85% from its previous close of Rs. 682.15. The stock also jumped 1.6% to hit an intraday high of Rs 693 as of January 14, 2025.
Recent Update
Invesco Mutual Fund has recently increased its stake in Awfis Space Solutions Limited through an open market acquisition. On January 10, 2025, Invesco, through eight of its schemes including Invesco India Aggressive Hybrid Fund and Invesco India Equity Savings Fund, acquired 57,845 shares (0.0817%) of the company.
Before this acquisition, Invesco held 34,87,410 shares representing 4.9237% of the company. After the transaction, Invesco’s total holding increased to 35,45,255 shares, amounting to a 5.0054% stake in Awfis Space Solutions. The shares were acquired through the BSE Limited and the National Stock Exchange of India Limited. The company’s total equity share capital stands at Rs. 70,82,79,950 comprising 7,08,27,995 equity shares of Rs. 10 each.
Awfis new Development
Awfis Space Solutions Ltd. has expanded its footprint by launching its first center in Lucknow, covering 47,694 sq. ft. Located in the thriving Gomti Nagar, a key business district and IT hub, the center is strategically positioned to cater to the city’s growing demand for flexible workspaces. Gomti Nagar is rapidly evolving with IT parks, business complexes, and residential developments, making it a prime real estate destination.
This launch aligns with Uttar Pradesh’s ambitious goal of achieving a $ 1 trillion economy, with Lucknow contributing 3.85% to the state’s GDP. Awfis’ entry into Lucknow marks a significant step in its national expansion.
Financial Performance
AWFIS Space Solutions Ltd demonstrated impressive growth in its financial performance for September 2024 compared to September 2023. Sales surged by 40.4%, from ₹208 crore to ₹292 crore, reflecting strong demand for its shared workspace solutions.
EBITDA saw a remarkable increase of 66.7%, rising from ₹60 crore to ₹100 crore, indicating enhanced operational efficiency. The operating profit margin (OPM) also improved significantly, growing from 29% in September 2023 to 34% in September 2024, reflecting better cost management and profitability.
Net profit turned positive, increasing from a loss of ₹4 crore in September 2023 to a profit of ₹39 crore in September 2024, highlighting a strong turnaround in profitability and a positive growth trajectory for the company.
About the Company
Incorporated in December 2014, Awfis Space Solutions Limited is a leading provider of flexible workspace solutions in India. The company caters to a diverse clientele, offering customizable office spaces for startups, small and medium enterprises, as well as large corporates and multinational companies.
As of December 2023, Awfis operates 169 centers across 52 micro-markets in 16 cities, with a total seating capacity of 105,258 and a chargeable area of 5.33 million square feet. Known for its extensive network, Awfis is the largest flexible workspace provider in India.
The company is backed by leading financial institutions such as ICICI Securities, Axis Capital, IIFL Securities, and Emkay Global, which are the book-running lead managers for its public issue.
Written By: Dipangshu Kundu
