Awfis Registers Rs 257 Cr Revenue In Q1 FY25

Delhi-based Awfis, a co-working solutions provider, reported net consolidated profit after tax of Rs 2.78 crore from Rs 1.37 crore in Q4 FY24, because of the steady expansion in scale.

The business saw a rise in revenue of 10.9 per cent and a profit peak of 102.9 per cent in the same time frame. In Q1 FY25, Awfis' revenue climbed to Rs 258 crore from Rs 232 crore in Q4 FY24, according to its consolidated financial statements that were submitted to the National Stock Exchange (NSE) undisclosed. 72 per cent of the company's overall operational revenue came from the rental of co-working spaces and related services, with 26 per cent coming from building and fit-out projects.  Its operational revenue rose from Rs 187.7 crore in Q1 FY24 by 37.31 per cent on a sequential basis.

From Rs 239.79 crore in Q4 FY24 to Rs 265.08 crore in Q1 FY25, Awfis' total expenses grew by 10.57 per cent. Subcontracting cost and purchase of traded goods accounted for 24 per cent of the total expense. Aside from employee benefits, other significant costs for the ten-year-old company were financing and depreciation and amortization.

In Q1 FY24, Awfis reported a loss of Rs 8.3 crore, for background. As of the end of August 13, Awfis's market capitalization was Rs 4648 crore, or around USD 560 million, and its current trading price was Rs 669.7.