Latest news with #Awfis
Economic Times
6 days ago
- Business
- Economic Times
Awfis Space Solutions shares in focus after nine-fold jump in Q4 profit; revenue up 46%
Live Events Awfis Space Solutions share price target (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel 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 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 on a sequential basis, net profit declined 27% from Rs 15 crore in the December 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 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 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 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 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 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 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 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)
Time of India
6 days ago
- Business
- Time of India
Awfis Space Solutions shares in focus after nine-fold jump in Q4 profit; revenue up 46%
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo 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. Live Events '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. Also Read : High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital 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. Awfis Space Solutions share price target 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'. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
6 days ago
- Business
- Time of India
Groww files for IPO; FirstCry, Awfis report Q4 earnings
Groww files for IPO; FirstCry, Awfis report Q4 earnings Also in the letter: Groww files draft papers for IPO, eyes $700 million to $1 billion listing The details: IPO size estimated between $700 million and $1 billion. Groww would be the first fintech to go public after redomiciling to India. An increasing number of tech firms are opting for confidential filings to seek regulatory feedback. Pre-IPO dough: On March 26, ET reported that Groww was in talks to raise $250-300 million from Singapore's sovereign fund GIC, potentially at a valuation of $6.5 billion. On May 16, GIC formally approached India's competition watchdog for approval to invest $150 million in exchange for a 2.14% stake. If approved, the deal could double Groww's $3 billion post-money valuation from 2021. Financials: FY24 operating revenue stood at Rs 3,145 crore. Net loss was Rs 805 crore, primarily due to a one-time tax expense related to its shift back to India. Operating profit came in at Rs 535 crore. Also Read: FirstCry's Q4 loss widens to Rs 111 crore; full-year Ebdita improves By the numbers: Full-year FY25 loss: Rs 265 crore vs Rs 322 crore in FY24. Rs 265 crore vs Rs 322 crore in FY24. FY25 revenue: Rs 7,660 crore, up 18% YoY. Rs 7,660 crore, up 18% YoY. Adjusted Ebdita: Rs 100 crore in Q4, up from Rs 84 crore in Q4FY24. Rs 100 crore in Q4, up from Rs 84 crore in Q4FY24. Gross profit: Rs 1,206 crore in Q4, margin at 37.5%. Segment revenue (Q4FY25): India multi-channel: Rs 1,337 crore. Rs 1,337 crore. GlobalBees: Rs 398 crore. Rs 398 crore. International: Rs 125 crore. Rs 125 crore. Others: Rs 11 crore. Nazara Technologies Q4 revenue nearly doubles; net profit rises to Rs 4 crore Financials: Operating revenue: Rs 520.2 crore, up 95% year-on-year (YoY). Rs 520.2 crore, up 95% year-on-year (YoY). Net profit: Rs 4 crore, up from Rs 0.18 crore a year ago. Rs 4 crore, up from Rs 0.18 crore a year ago. Esports revenue: up 47% YoY; Gaming division revenue: up 72% YoY. up 47% YoY; Gaming division revenue: up 72% YoY. Total expenses: Rs 527.7 crore, up 85% YoY. Rs 527.7 crore, up 85% YoY. Advertising and promotional spend: Rs 151.03 crore. Awfis net profit rises nine-fold in Q4, revenue up 46% Financials: Operating revenue: Rs 339 crore Q4. Rs 339 crore Q4. Net profit: Rs 11.3 crore, up from Rs 1.2 crore a year ago. Rs 11.3 crore, up from Rs 1.2 crore a year ago. Total expenses: Rs 347 crore, up from 239 crore YoY. Rs 347 crore, up from 239 crore YoY. FY25 revenue: Rs 1,207 crore, up 42% from Rs 849 crore in FY24. Rs 1,207 crore, up 42% from Rs 849 crore in FY24. FY25 net profit: Rs 68 crore, compared to a Rs 17 crore loss in FY24. Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Zepto founder Aadit Palicha alleges smear campaign by rival CFO as quick commerce race heats up What's the news: Financials: Monthly gross order value rose from Rs 750 crore in May 2024 to Rs 2,400 crore in May 2025. Ebitda improved by 2,000 basis points between January and May 2025. GOV grew 20% in the same period. Cash runway stands at Rs 7,445 crore. Also Read: Cut-throat space: Eternal-owned Blinkit led the March quarter with Rs 9,421 crore in GOV. Swiggy's Instamart followed with Rs 4,670 crore, twice its figure from a year ago. Blinkit also leads in dark stores, operating 1,300+ and targeting 2,000 by the end of 2026. Zepto and Instamart crossed 1,000 this year. Space-tech companies get an opening as India seeks more eyes in the sky Current state: India currently operates about 10–11 defence satellites, mainly from the Cartosat and RISAT series. While effective, Bhatt noted that their long revisit times limit continuous surveillance. Quote, unquote: Tell me more: Private players will build 31 satellites, with ISRO handling 21. Startups and geographic information system (GIS) firms are stepping in with new satellites, better analytics tools, and upgraded ground stations to meet this rising demand. OpenAI to open office in Seoul amid growing demand for ChatGPT Driving the news: South Korea has the highest number of paying ChatGPT users after the United States, OpenAI said. The company has begun hiring locally to support partnerships in the region and plans to share further details in the coming months. OpenAI previously partnered with chat app operator Kakao to develop AI products tailored for the South Korean market. Official statement: Wealthtech platform Groww is heading for the public markets after confidentially filing its draft IPO papers. This and more in today's ETtech Top 5.■ Zepto CEO shrugs smears■ India's eyes in the skies■ OpenAI's new Asian outpost(L-R) Harsh Jain, Neeraj Singh, Lalit Keshre and Ishan Bansal, founders, GrowwOnline investment platform Groww has moved a step closer to its Dalal Street debut by confidentially filing its draft red herring prospectus (DRHP) with the market regulator, as per a public notice on March IPO is expected to be among the largest by size, joining the ranks of new-age peers such as Swiggy, Zomato and Maheshwari, CEO, FirstCryBrainbees Solutions, which operates omni-channel baby products retailer FirstCry, reported a consolidated net loss of Rs 111 crore in Q4 FY25 — widening from Rs 43 crore in the year-ago period and Rs 15 crore in the previous quarter. Operating revenue stood at Rs 1,930 crore, up 16% year-on-year but down 11% company said 38% of GMV from its top 20 cities came from cross-channel users transacting both online and Mittersain, CEO, Nazara TechnologiesOnline gaming firm Nazara Technologies posted a strong growth in operating revenue and net profit for the fourth quarter of Lakhani, CEO, AwfisOffice space solutions provider Awfis recorded a 46% rise in operating revenue for the March quarter, driven by greater contributions from enterprise clients, allied services and improved operating Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Palicha, CEO, ZeptoZepto founder and CEO Aadit Palicha has accused a senior executive at a rival quick commerce firm of orchestrating a smear campaign, claiming the executive circulated false information to investors and a LinkedIn post, Palicha said a competitor's CFO made 'wild allegations' without empirical evidence, sharing 'false numbers and Excel sheets' with journalists via proxy sources. He also alleged that bots were unleashed to tarnish Zepto's online suggested the smear effort signals growing anxiety among rivals about 'how fast Zepto's Ebitda is improving' despite the competitor hailing from a 'high-quality company.'To back his claims, Palicha outlined Zepto's performance:Zepto remains a standalone player in a sector dominated by big-backed is ramping up its satellite-based Intelligence, Surveillance and Reconnaissance (ISR) capabilities in the wake of Operation Sindoor, Lt Gen AK Bhatt (Retd), director general of the Indian Space Association (IspA), told us.'The Space Based Surveillance (SBS-III) programme is critical, but with a 4-5 year timeline, there's pressure to fast-track it and reduce dependence on foreign or commercial satellite data after the escalations between the two countries,' said Bhatt, a former DGMO who handled the Doklam SBS-III programme will deploy 52 Indian-owned and operated satellites, offering real-time imagery from low Earth and geostationary will open its first office in Seoul and has registered a local entity in South Korea, citing growing demand for ChatGPT in the country, the company announced on Monday."Korea's full-stack AI ecosystem makes it one of the most promising markets in the world for meaningful AI impact, from silicon to software, and students to seniors," chief strategy officer Jason Kwon said in a statement.
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 Standard
6 days ago
- Business
- Business Standard
Awfis elevates Sumit Lakhani as CEO
Awfis Space Solutions announced the elevation of Sumit Lakhani as Chief Executive Officer (CEO). This strategic leadership transition marks a significant milestone in the company's growth journey and is designed to further strengthen its operational focus and execution capabilities. As CEO, Sumit will focus on P&L, daily operations, and customer-centric initiatives along with sales, marketing, and supply acquisition. Amit Ramani as Founder and Chairman & Managing Director, will continue to be at the helm, provide overarching strategic direction, ensuring Awfis stays at the forefront of innovation and long-term value creation. His focus will be 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. Amit's leadership will guide the next phase of expansion, capital efficiency, and multi-line diversification, anchoring Awfis as a future-ready enterprise.
