Awfis Space Solutions shares in focus after nine-fold jump in Q4 profit; revenue up 46%
Awfis Space Solutions share price target
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Shares of shared workspace provider Awfis Space Solutions will be in focus on Tuesday after the company reported a sharp rise in quarterly profit and strong revenue growth, supported by operational efficiency and the performance of its coworking and allied services business.For the quarter ended 31 March, operating revenue rose 46% year-on-year (YoY) to Rs 339 crore, the Delhi-based firm said on Monday. Net profit surged over nine-fold to Rs 11.3 crore, compared with Rs 1.2 crore in the same quarter last year.However, on a sequential basis, net profit declined 27% from Rs 15 crore in the December quarter.Total expenses in Q4FY25 rose to Rs 347 crore from Rs 239 crore a year ago. The increase was largely driven by depreciation and amortisation expenses of Rs 81 crore, subcontracting costs of Rs 58 crore, and other expenses of Rs 128 crore.The company's Chairman and Managing Director, Amit Ramani, said the coworking and allied services segment delivered strong growth, with revenue rising 48% YoY to Rs 916 crore. This segment contributed 76% of the company's total revenue for the year.'This performance was primarily driven by a successful phase of newly added seats, sustained improvements in occupancy across our established centres, and strong momentum in our food and beverage business,' Ramani told analysts during a post-earnings call.As of 31 March, Awfis operated in 18 cities with 208 active centres, hosting over 134,000 seats and covering a chargeable area of 7.8 million sq ft.For FY25, Awfis reported a 42% increase in revenue to Rs 1,207 crore, compared with Rs 849 crore in FY24. Net profit stood at Rs 68 crore for the year, a turnaround from a Rs 17 crore loss in the previous year.Looking ahead to FY26, Ramani said the company will focus on execution in the first half, aiming to drive occupancy across existing centres. In the second half, it plans to resume capacity expansion by targeting high-potential locations to meet emerging demand and optimise returns.The company also announced the elevation of Deputy CEO Sumit Lakhani to Chief Executive Officer. In his new role, Lakhani will be responsible for profit and loss, daily operations, customer engagement, and also lead sales, marketing, and supply acquisition efforts.According to Lakhani, approximately 66% of the company's occupied seats are used by large corporations and multinational firms, 20% by small and medium enterprises, 13% by startups, and the remainder by freelancers.According to Trendlyne, the average target price for Awfis Space Solutions stands at Rs 967, suggesting an upside of nearly 46% from current levels. Of the five analysts tracking the stock, the consensus rating is 'Strong Buy'.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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