Flex office solutions provider Awfis Space Solutions on Monday posted a whopping 716.8% jump in its net profit during the fourth quarter of FY25, at Rs 11.3 crore, as compared to Rs 1.2 crore a year ago, led by strong revenue growth.
This was mainly led by a 46% rise in its revenue from operations during the quarter at Rs 339.6 crore as compared to Rs 232.3 crore in Q4FY24.
The income from co-working space rentals and allied services accounted for 79% of Awfis’s total operating revenue. It grew by 60% year-on-year to Rs 269 crore in Q4FY25, up from Rs 168 crore in Q4FY24.
Awfis’ operating Ebitda margin for the quarter came in at 34.1%, up 520 bps on a y-o-y basis. The company said it was due to strong revenue growth, enterprise clients, allied services and operating efficiencies.
For the full FY25, the company clocked a growth of around 42%, as compared to FY24. Its Ebitda margin improved 440 bps to 33.3%.
In a conversation with FE in April, Amit Ramani, chairman and managing director, Awfis Space Solutions said that they expect to close FY25 with a growth of over 40%. We would have about 135,000 seats by year-end, he added.
According to the filings on Monday, the company’s total operational seat count stood at 134,121 as of March 31.
The company operates an asset-light model called the managed aggregation model. Under this, it partners with landlords, typically HNIs, family offices, or wealth managers, and ask them to invest in the fit-outs.
In return, they are offered a higher profit share. Currently, 67% of all of the company’s seats operate under this model.
Ramani, on Monday, said that the company is also offering corporate mobility solutions and has partnered with ECOS (India) Mobility & Hospitality to offer chauffeur-driven and employee transportation services.
“Looking ahead to FY26, our strategy will have two phases,” said Ramani.
“In the first half, we will focus on optimising our expanded capacity from FY25, driving strong occupancy and efficiency,” he said, adding that in the second half, the priority will be on strategic capacity expansion, targeting high-potential locations.
The Delhi-based company also announced elevation of Sumit Lakhani to the post of chief executive officer from deputy CEO. Lakhani joined Awfis in May 2015 as the chief marketing officer.