Amit Ramani, Chairman and Managing Director, Awfis Space Solutions Ltd

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Awfis Space Solutions Ltd on Wednesday reported a 27 per cent year-on-year (y-o-y) rise in consolidated revenue from operations to ₹425 crore for the first quarter ended June 30, 2026, compared to ₹335 crore in the same period last year. Profit after tax surged 140 per cent to ₹24 crore from ₹10 crore a year ago, while EBITDA grew 28 per cent to ₹162 crore, with margins expanding to 38.2 per cent from 37.8 per cent.The company’s core co-working business contributed ₹352 crore to revenue, up 27 per cent y-o-y, driven by demand from enterprises, Global Capability Centres (GCCs) and multi-centre clients. Its Transform segment, which handles construction and fit-out projects, posted ₹73 crore in revenue, a 25 per cent increase over the prior year period, with 92 per cent of that revenue coming from third-party clients.New centresDuring the quarter, Awfis added seven new centres, taking its total network to 251 centres with approximately 1,70,000 seats across 18 cities. The company served nearly 3,600 clients. Occupancy at centres older than 12 months stood at 83 per cent, while overall portfolio occupancy was 76 per cent.On the balance sheet, the company maintained a net debt-to-equity ratio of -0.08 and a gross debt ratio of 0.10. Return on capital employed stood at 55 per cent, and borrowing costs declined to 9.05 per cent, with incremental borrowing at 8.5 per cent. The company holds an A+ credit rating with a stable outlook.Awfis currently serves over 100 GCC clients, who collectively account for 24 per cent of rental revenue. The company has also signed a developer partnership with the Malpani Group for two Grade A+ properties totalling approximately 1.4 lakh square feet.Chairman and Managing Director Amit Ramani noted that newly added premium inventory is expected to command pricing 30–50 per cent higher than the existing portfolio. The Transform segment has already secured mandates worth over ₹200 crore across multiple cities.Published on August 14, 2026