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Awfis Space Solutions Ltd

₹ 486-1.66%
05 Jan – close price
🔗awfis.com•BSE: 544181•NSE: AWFIS
Market Cap₹ 3,473 Cr.
Current Price₹ 486
High / Low₹ 787
Stock P/E71.2
Book Value₹ 69.2
Dividend Yield0.00 %
ROCE12.7 %
ROE24.8 %
Face Value₹ 10.0
Sales₹ 1,353 Cr.
OPM35.3 %
Mar Cap₹ 3,473 Cr.

ABOUT

Incorporated in December 2014, Awfis Space Solutions Limited is a workspace solution provider in India.[1]Awfis Space Solutions provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces for startups, small and medium enterprises as well as for large corporates and multi-national corporations. ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and Emkay Global Financial Services Limited are the book-running lead managers to the public issue.

KEY POINTS

Leading Workspace Provider[1]Awfis Space Solutions is India’s largest and fastest-growing flexible workspace solutions platform. As of 31 March 2025, the company operated208 centers with 134,000+ operational seats. Including centers under fit-out and those with signed Letters of Intent (LoIs), the footprint expanded to 243 centers with ~164,000 seats across 8.4 million square feet (msft) of area. Awfis is present across 58 micro-markets in 18 cities, covering 9 Tier 1 and 9 Tier 2 cities.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsPreferential IssuanceOrder Book PositionLarge Order ReceiptsJv Partnerships AcquisitionsRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.International Ge332.7528.1514380.110.75129.7918.42303.7421.4368.011174.4359.40510.83129.7911.6240.560.11
2.NESCO1253.3021.358830.750.52118.9111.26239.1824.5121.12831.0757.58413.61118.913.1613.760.04
3.Wework India610.8546.418186.810.007.39-96.38573.0322.26137.071941.8163.70176.417.39–3.5722.73
4.Smartworks Cowor506.00–5781.660.00-3.1480.16424.7821.246.971374.0662.39-64.72-3.1411.35-1.478.60
5.CMS Info Systems342.2015.745628.251.9073.35-19.32608.62-2.5523.672436.5925.32357.6873.352.4112.440.10
6.NDR INVIT Trust128.0035.005068.961.4336.6039.07103.6138.004.74379.0387.31144.8237.051.332.650.38
7.Nirlon499.8014.174504.205.20147.66161.39165.313.1830.18647.6778.91317.91147.669.7110.002.47
8.AWFIS Space485.7071.223473.190.0015.0510.01365.1925.3112.691353.2235.3148.7715.057.022.312.93
–Median: 60 Co.142.6322.77402.390.06.5136.264.0525.0812.69272.7314.8413.636.482.795.210.28

Quarterly Results

Standalone figures in ₹ crores

Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2023Sep 2024Sep 2025
Sales
220316187257333160232338208291365
Expenses
153210137179208112165223148192234
Operating Profit
67107517812548671156099131
Other Income
51551018592073426
Profit before tax
-615-829-14111-43815
Tax %
0%0%0%0%0%0%0%0%0%0%0%
Net Profit
-615-829-14111-43815
EPS in Rs
–2.05–0.291.25––1.60–5.372.10

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1542261782575458471,2031,353
Expenses
187223125189388601799875
Operating Profit
-3335368158245404478
Other Income
7-9382219257479
Interest
5947497393136171
Depreciation
31548798150196276336
Profit before tax
-62-68-43-57-46-186650
Net Profit
-62-68-43-57-46-186650
EPS in Rs
––––––9.247.00
Dividend Payout %
0%0%0%0%0%0%0%–

Compounded Profit Growth

10 Years:%
5 Years:23%
3 Years:41%
TTM:361%

Compounded Sales Growth

10 Years:%
5 Years:40%
3 Years:67%
TTM:35%

Return on Equity

10 Years:%
5 Years:%
3 Years:%
Last Year:25%

Stock Price CAGR

10 Years:%
5 Years:%
3 Years:%
1 Year:-33%

Balance Sheet

Standalone figures in ₹ crores

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
3030303030197172
Reserves
-67-112-1965-55-113386423
Borrowings
139248142126951,0791,4131,451
Other Liabilities
94111355453261411635749
Total Liabilities
1972775095609311,3962,5052,694
Fixed Assets
66963003406539161,5801,645
Gross Block
96.17192.18377.50516.11977.821,441.602,173.60–
Accumulated Depreciation
30.2296.1977.64176.07325.08525.99593.41–
CWIP
410919186
Investments
325842171222
Other Assets
951211661942774709051,041
Total Assets
1972775095609311,3962,5052,694

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-11-86883181230362
Cash from Investing Activity
-38-110-46-7-157-163-203
Cash from Financing Activity
62113-19-80-28-65-124
Net Cash Flow
12-53-4-3235

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
993154323337
Inventory Days
–––4–––
Days Payable
–––359–––
Cash Conversion Cycle
9931-301323337
Working Capital Days
-110-764-160-107-68-90
ROCE %
–-37%-0%-7%7%9%13%

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
28.56%28.24%20.44%20.40%20.31%17.01%
FIIs
22.54%20.66%21.07%19.33%21.45%25.04%
DIIs
13.54%20.81%29.37%33.97%37.63%41.18%
Public
35.36%30.28%29.12%26.29%20.62%16.77%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Awfis Space Solutions to Close Trading Window from April 1 for Insiders Ahead of FY26 Results

26th March 2026, 5:04 pm

Awfis Executes Addendum to Business Transfer Agreement, Final Consideration to be Determined by Valuation Report

24th March 2026, 11:02 pm

Awfis Crosses 100 Centres Milestone in South India, Surpasses 70,000 Seats

18th March 2026, 3:54 pm

Awfis Extends Business Undertaking Sale Timeline to End of 2026

26th February 2026, 4:37 pm

Awfis Extends Slump Sale Completion Timeline to End of 2026

26th February 2026, 4:19 pm

Published by Other Websites

External media mentions & references

India Flex Workspace Hits 100M Sq Ft, Eyes $10B Valuation by 2028

1st April 2026, 6:18 pm

Indian Flex Workspaces Surge Past 100M Sq Ft, Eye $10B Valuation

1st April 2026, 1:43 pm

Awfis Builds 3.9 Lakh Sq Ft Pipeline for Asset-Light Growth

26th March 2026, 3:50 pm

Awfis Opens 100+ South India Centers; Investors Eye Valuation, Competition

18th March 2026, 11:56 am

Awfis MD Forecasts $10 Billion GCC Industry Boom by 2030

18th March 2026, 6:41 am

News Articles

Editorial & research coverage

India Flex Office: Growth Sparks Valuation Concerns
India Flex Office: Growth Sparks Valuation Concerns

9th February 2026, 10:20 am

Adani, PB Fintech, UPL Lead Earnings Surge: Stocks in Focus Feb 3
Adani, PB Fintech, UPL Lead Earnings Surge: Stocks in Focus Feb 3

3rd February 2026, 7:20 am

Awfis Profit Surges 43% On Demand, Stock Hits 52-Week Low
Awfis Profit Surges 43% On Demand, Stock Hits 52-Week Low

2nd February 2026, 9:00 pm

Awfis Posts Strong Q3 Earnings Amidst Booming Flex Space Market
Awfis Posts Strong Q3 Earnings Amidst Booming Flex Space Market

2nd February 2026, 6:13 pm

India Inc Gears Up for Q3FY26 Earnings Wave
India Inc Gears Up for Q3FY26 Earnings Wave

2nd February 2026, 8:18 am

Documents

Announcements

Announcement under Regulation 30 (LODR)-Issue of Securities

9h - Grant of 10,000 ESOPs at INR 345.73 each; effective Jan 05, 2026; four-year vesting (25% yearly).

Determination Of Materiality Of Events/Information

9h - CFO Ravi Dugar resigns effective Feb 2, 2026; Sumit Rochlani appointed CFO effective Feb 3, 2026.

Announcement under Regulation 30 (LODR)-Change in Management

10h - CFO Ravi Dugar resigns effective Feb 2, 2026; Sumit Rochlani appointed CFO effective Feb 3, 2026.

Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)

10h - CFO Ravi Dugar resigns effective Feb 2, 2026; Sumit Rochlani appointed CFO effective Feb 3, 2026.

Board Meeting Outcome for Resignation Of Mr. Ravi Dugar As The Chief Financial Officer & Appointment Of Mr. Sumit Rochlani As Chief Financial Officer (Key Managerial Personnel & Senior Managerial Personnel) Of The Company W.E.F. February 3, 2026.

10h - CFO Ravi Dugar resigns effective Feb 2, 2026; Sumit Rochlani appointed CFO effective Feb 3, 2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Credit Ratings

Rating update

16 May 2025 from fitch

Rating update

22 Apr 2024 from fitch

Concalls

Nov 2025

TranscriptPPT

Aug 2025

TranscriptPPT

May 2025

TranscriptPPTRecording

Feb 2025

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Dec 2024

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Aug 2024

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Jun 2024

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Stock Analysis

Description

  1. Incorporated in December 2014, Awfis Space Solutions Limited is a workspace solution provider in India. Awfis Space Solutions provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces for startups, small and medium enterprises as well as for large corporates and multi-national corporations. ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and Emkay Global Financial Services Limited are the book-running lead managers to the public issue.

Key Growth Triggers

  1. Awfis Space Solutions is India’s largest and fastest-growing flexible workspace solutions platform. As of 31 March 2025, the company operated 208 centers with 134,000+ operational seats. Including centers under fit-out and those with signed Letters of Intent (LoIs), the footprint expanded to 243 centers with ~164,000 seats across 8.4 million square feet (msft) of area. Awfis is present across 58 micro-markets in 18 cities, covering 9 Tier 1 and 9 Tier 2 cities.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Stock is trading at 7.02 times its book value
  2. Company has low interest coverage ratio.
  3. Promoter holding has decreased over last quarter: -3.30%
  4. Promoter holding is low: 17.0%

Key Dates To Watch

  1. January 14, 2026: Group Meeting with Investors/Analysts in Mumbai.

Corporate Announcements

26th Mar 26
Impact Rating: 6
In compliance with SEBI regulations, Awfis Space Solutions Limited will shut its trading window for designated persons and their immediate relatives from April 1, 2026. The window will reopen 48 hours after the declaration of the company's audited financial results for the fiscal year ending March 31, 2026.
24th Mar 26
Impact Rating: 7
Awfis Space Solutions announced an addendum to its Business Transfer Agreement, executed on March 24, 2026. The final consideration for the business undertaking will now be determined based on an updated valuation report, with a reference date set as the Closing Date.
18th Mar 26
Impact Rating: 9
Awfis has achieved a significant milestone, opening 100 centres in South India with over 70,000 seats, bolstering its position in key cities and national operations.
26th Feb 26
Impact Rating: 7
Awfis Space Solutions Limited announced an extension for the slump sale of its Design and Build Business undertaking, now expected by end of 2026 from the earlier February 2026 deadline.
26th Feb 26
Impact Rating: 7
Awfis Space Solutions Limited's Board of Directors approved extending the slump sale timeline for its Design and Build Business from February 28, 2026, to the end of calendar year 2026.