Awfis, a leading provider of co-working solutions, has posted impressive results for the second quarter of FY25, with significant growth in revenue and profitability. The company’s revenue from operations surged 40.5% year-on-year, reaching Rs 292.38 crore in Q2 FY25, compared to Rs 208.15 crore in the same quarter last year. This marks a strong recovery and continued growth for the firm, which has been expanding its co-working space offerings.
In addition to the operating revenue, Awfis recorded Rs 9.56 crore in other income, bringing its total income for the quarter to Rs 301.95 crore. On a quarterly basis, the company saw a 13.46% increase in revenue from Rs 258 crore in Q1 FY25, further highlighting its growth momentum.
Revenue Breakdown
Awfis’ primary revenue driver remains its co-working spaces segment, which saw an impressive 43.1% growth, reaching Rs 218.31 crore in Q2 FY25, compared to Rs 152.56 crore in Q2 FY24. The company’s construction and fit-out projects segment contributed Rs 68.15 crore, while other services generated Rs 5.9 crore for the quarter.
Cost Structure and Profitability
Awfis’ cost structure for the quarter included a significant burn in subcontracting costs, which amounted to Rs 56.13 crore. Employee benefits expenses rose to Rs 39.38 crore, and depreciation and amortization expenses grew by 33.5% year-on-year, totaling Rs 64 crore. Finance costs were Rs 30.4 crore, contributing to a total expense of Rs 287.29 crore in Q2 FY25.
Despite these expenses, Awfis managed to maintain profitability, posting a profit after tax (PAT) of Rs 38.67 crore for the quarter. The firm also recorded an exceptional income of Rs 24 crore, which boosted its bottom line.
Market Performance
Awfis’ stock, which was listed on the NSE in May 2024, has shown strong market performance. The stock opened at Rs 435, a 13.58% premium over its issue price of Rs 383, and closed at Rs 776 before the market closed on Monday, reflecting investor confidence in the company’s performance and growth prospects.
About Awfis
Founded in 2015, Awfis provides flexible office space solutions for startups, SMEs, and large corporations, with a focus on delivering comprehensive services such as IT support, food and beverages, and infrastructure solutions. The company has emerged as a key player in the co-working space market, capitalizing on the growing demand for flexible workspaces in India.
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