Awfis Space Solutions, which provides offices to corporates, reported a 20.8% year-on-year increase in its revenue from operations, at Rs 410 crore in the March quarter, up from Rs 339 crore a year earlier. Net profit more than doubled to Rs 23 crore from Rs 11.2 crore during the same period helped by rising demand from global capability centres (GCCs) and enterprises.
The Delhi-based company reported a total income of Rs 429 crore for the quarter, including Rs 19 crore from other income.
Co-working spaces remained the company’s biggest revenue contributor, accounting for more than 83% of operating revenues. Income from the segment rose 26.8% on-year to Rs 341.5 crore in Q4 FY26 from Rs 269.3 crore in the year-ago period. The construction and fit-out projects business contributed Rs 68.6 crore during the quarter.
Shares of Awfis closed 4.53% higher at Rs 359.1, giving the company a market capitalisation of Rs 2,569 crore, or around $270 million.
During the year, the company added 41 new centres and 30,000 operational seats. Its network expanded to 266 centres with 1,84,000 seats across 18 cities in tier I and II markets, serving around 3,500 clients.
“We have scaled the premium portfolio meaningfully, deepened our GCC enterprise base, built our new adjacencies in transform, delivered industry-leading returns on capital, and stayed net cash positive through it all,” said Amit Ramani, chairman & MD, Awfis during the Investors call on Monday.
The company said growth was driven by continued demand from enterprises and GCCs, along with expansion in premium office spaces. GCCs and Fortune 500 companies now contribute a growing share of its business, with more than 100 GCC clients accounting for 23% of rental revenueS.
Multi-centre clients made up 48% of Awfis’ customer base during the year, reflecting higher demand from companies looking for office space across multiple cities. Occupancy levels also remained steady, with clients taking more than 500 seats comprising 37% of its portfolio.
Since December 2023, the New Delhi-based company has expanded its presence in tier II cities by 29%, increasing its centres in these markets from 17 to 22.
