Latest news with #AmitRamani
Time of India
6 days ago
- Business
- Time of India
Awfis posts net profit of 11.23 crore in Q4 FY25, elevates Sumit Lakhani as CEO
NEW DELHI: Awfis Space Solutions , a flexible workspace solutions provider, has reported net consolidated profit of ₹11.23 crore during the quarter ended March 31, 2025. Its profit after tax stood at ₹1.37 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹359.45 crore in Q4 FY25, a growth of 49.09 per cent from ₹241.10 crore it recorded in the similar quarter last year. Amit Ramani , chairman and managing director of the company said, "Our revenue rose by 42% year-on-year, reaching ₹1,208 crore in FY25. Additionally, operational EBITDA grew by 64% during this period to ₹402 crore, resulting in an EBITDA margin of 33.3%. This represents an expansion of over ~440 bps compared to FY24, exceeding our initial expectations." The company reached the targeted 1,35,000 operational seats by March 2025. Since March 2024, it has added over 39,000 seats and 48 centers, bringing its total to over 1,34,000 seats across 208 operational centers. Including fit-outs and LOIs, the company now has around 1,64,000 seats covering 8.4 million sq ft. It reported operating revenue of ₹1,208 crore in FY25, registering a growth of 42% year-on-year. Operating EBITDA margin for FY25 was at 33.3%, improved by 440 bps year-on-year basis. The company also elevated Sumit Lakhani as chief executive officer (CEO) of the company. He will focus on P&L, daily operations, and customer-centric initiatives along with sales, marketing, and supply acquisition. Ramani will focus on company growth, new business initiatives, Awfis Transform (Design and Build), as well as overseeing core enabling functions such as Finance, HR, Legal, and Administration.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Awfis Names Sumit Lakhani as New CEO in Strategic Leadership Move
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Awfis Space Solutions, a leading provider of flexible workspaces in India, has announced the elevation of Sumit Lakhani to the position of Chief Executive Officer (CEO). This leadership change marks a key moment in the company's growth, aimed at boosting daily operations and customer-focused strategies. Sumit has been with Awfis since its beginning and has helped shape the brand, customer experience, and marketing strategies. As CEO, he will now lead operations, sales, marketing, and supply acquisition. "I am truly honoured to take on the role of CEO at such a pivotal moment in Awfis' evolution," said Sumit. "From our early startup days to becoming India's leading flex workspace provider, it has been a great journey. I look forward to deepening our impact, scaling new heights, and continuing to deliver value to our clients, partners, and teams." Amit Ramani, Founder and Chairman and Managing Director of Awfis, will continue to guide the company's overall strategy. He will focus on growth, new business ventures like Awfis Transform (Design and Build), and core departments such as finance, HR, legal, and administration. "This leadership transition is a significant step forward in our journey of scaling Awfis into a futuristic, world-class organisation," said Amit. "Sumit has played a key role in Awfis' growth story. His clear thinking, team collaboration, and innovative mindset make him the right person for the role. I'm confident he will lead with excellence." Before joining Awfis, Sumit held senior roles in investment banking, asset management, and IT services at Yes Bank, ST Asset Management, and Tesco. He is an alumnus of S.P. Jain Centre of Management and is known for his strategic thinking and forward-looking ideas. With this leadership change, Awfis is set to strengthen its position as a tech-enabled workspace provider. The company, which operates over 200 centres in 18 cities, plans to expand further into new markets and enhance its offerings for businesses of all sizes. Awfis continues to focus on creating smart, flexible workspaces that meet the changing needs of today's workforce, helping companies thrive in a modern business environment.
Business Upturn
13-05-2025
- Business
- Business Upturn
Awfis Space Solutions expands ‘Elite by Awfis' with global clients onboard; plans rollout in metro cities
By Aditya Bhagchandani Published on May 13, 2025, 10:25 IST Awfis Space Solutions Ltd, India's largest listed flexible workspace provider, announced a major client acquisition and expansion initiative under its premium workspace category, 'Elite by Awfis'. The company has successfully onboarded two Global Capability Centres (GCCs)—Meltwater and ABC Fitness—at its flagship luxury facility in Hyderabad, along with Zinnov, a global management consulting firm, at its 'Awfis Gold' centre. The announcement, made via a regulatory filing on May 13, 2025, signals Awfis' growing momentum in the premium office space segment. These clients represent the growing trend of multinational corporations choosing high-quality, fully-managed workspaces in India's top commercial hubs. The Elite and Gold categories feature state-of-the-art amenities, luxury design elements, and top-tier business infrastructure. Awfis will design, build, and manage these spaces, underscoring its turnkey workspace capabilities. In addition to Hyderabad, Awfis is planning to expand Elite centres to Bengaluru (Manyata Tech Park and Venus Block in Prestige Technology Park), Mumbai, and Delhi, tapping into strong demand from India's booming GCC segment. CMD Amit Ramani stated, 'Our pan-India network in 18 cities gives MNCs the ability to scale where talent and business demand exist. We're proud to serve as the strategic infrastructure partner for companies entering or expanding in India.' India's GCC sector is expected to grow from $46 billion to $85 billion by 2030. Awfis is strategically positioning itself to benefit from this trend with its suite of flexible workspace formats: Awfis, Awfis Gold, and Elite. Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please refer to official company filings and consult your financial advisor before making any investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
22-04-2025
- Business
- Time of India
As companies go hub-and-spoke, flex office boom spreads to tier-II cities
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Demand for shared office space is growing in tier-II cities as companies increasingly adopt a hub-and-spoke model by setting up satellite offices away from metros to tap into regional talent, cut cost and build a distributed office space providers such as WeWork, Smartworks, Awfis, 315 Work Avenue and BHIVE are aggressively scaling up their presence in cities like Jaipur, Kochi, Pune, Coimbatore, Indore and Vadodara to cater to this demand, which is growing faster than to experts, while metros continue to grow rapidly, the next wave of co-working expansion will be led by tier-II cities, fuelled by increasing startup activity there and demand for office space with 50-500 seats.'Additionally, the emergence of global capability centres in these cities is set to attract real estate investments , making them key hubs for future business growth and significantly benefiting the flexible office sector,' said 315Work Avenue founder Manas reverse migration — people moving back to villages and towns from cities — improved digital infrastructure and incentives offered by states are fuelling increased activity in the flex-space in Gujarat, Kerala and Maharashtra have offered tax breaks, plug-and-play office zones and startup ecosystem support, making these states even more attractive to co-working operators and Workspace solution, one of the country's largest flexible workspace providers, is doubling its presence in small cities and towns.'Tier-II flex-space stock is expanding fast, projected to contribute 35–40% of the total market by 2028. Demand spans IT, BFSI, ecommerce and manufacturing,' said Awfis Space Solutions chairman Amit Ramani. 'At Awfis, 39% of over 3,000 clients operate in multiple centres, highlighting Tier-II cities' strategic value.'According to Colliers' India Flexible Workspace Outlook 2025, flexible workspaces now account for 15% of office leasing in tier-II cities, up from 9% a year experts said companies are retaining headquarters in metros while building agile regional nodes in smaller cities — optimising real estate costs and improving employee accessibility. Some have also rationalised real estate costs by consolidating and selling office assets in the flexible workspace market in India's Tier-II cities has grown rapidly from 2021 to 2025, with a 23% year-on-year leasing surge in the January-March quarter of 2025, according to real estate consultancy Kochi and Ahmedabad account for much of the demand growth, confirming their rise as strategic spoke cities for enterprise expansion.'Leading flexible space operators are expected to increase focus on refining their offerings by incorporating more amenities and technology, creating optimised hybrid work environments that enhance workplace experiences and expand value-added services for tenants,' said Anshuman Magazine, chairman and CEO – India, Southeast Asia, Middle East & Africa at development of infrastructure and connectivity is a major driver of the rise of co-working spaces in tier-II cities. As companies seek cost optimisation, proximity to talent, and flexibility, demand for hybrid workspaces is rising. Lower cost of living and government-led infrastructure initiatives are further boosting demand in these cities will eventually contribute 20% to the total flexible space absorption, said BHIVE Workspace CEO Shesh Paplikar.
