Awfis Space Solutions has announced strong performance for Q1 FY27, with revenue growing 27% year-over-year to ₹425 crore. EBITDA also saw a significant increase of 28% YoY to ₹162 crore, maintaining healthy margins of 38.2%. The company added 7 new centres, expanding its network to 251 centres and serving over 3,600 clients, highlighting its continued expansion and market leadership.
Awfis Reports Robust Q1 FY27 Performance
Awfis Space Solutions Limited has unveiled its financial results for the first quarter of Fiscal Year 2027 (Q1 FY27), showcasing a period of strong operational and financial growth. The company reported a significant 27% year-over-year increase in revenue, reaching ₹425 crore. This growth trajectory underscores the sustained demand for flexible workspace solutions in the Indian market.
EBITDA and Profitability Highlights
Further demonstrating its operational efficiency, Awfis achieved a 28% year-over-year rise in reported EBITDA, which stood at ₹162 crore. The company maintained a robust EBITDA margin of 38.2%, indicating effective cost management and strong pricing power. Profit Before Tax (PBT) for the quarter was reported at ₹24 crore.
Network Expansion and Client Base Growth
During Q1 FY27, Awfis strategically expanded its network by adding 7 new centres, bringing the total count to 251 centres. This expansion has increased the company’s seating capacity to approximately 170,000 seats across 18 cities. The company continues to serve a diversified client base, now exceeding 3,600 clients, reflecting its broad market reach across Tier 1 and Tier 2 cities.
Occupancy and Supply Pipeline
Occupancy rates remain strong, with centres having over 12 months of vintage achieving 83% occupancy, while the overall portfolio occupancy stands at 76%. The company’s supply pipeline is focused on premium Grade A+ assets, with newly added inventory expected to command pricing 30-50% higher than the current portfolio, positioning Awfis for future revenue and margin expansion.
Business Segments Performance
The core Co-working business experienced a 27% YoY growth, driven by sustained demand from enterprises, Global Capability Centres (GCCs), and multi-centre clients. GCCs and Fortune 500 companies are becoming a structural part of Awfis’ client base, with over 100 unique GCC clients contributing 24% of rental revenue. The Transform business, which offers construction and fit-out solutions, delivered a 25% YoY growth, supported by a strong project pipeline from large enterprises.
Financial Strength and Outlook
Awfis highlighted its strong financial position, noting that growth since its IPO has been funded primarily through internal accruals. The company maintains a capital-light business model, a strong balance sheet with a net debt-to-equity ratio of -0.08, and an industry-leading ROCE of 55%. Looking ahead, Awfis is confident in capitalizing on the growing demand for flexible workspaces in India, leveraging its differentiated network, premium centre portfolio, and integrated workplace solutions.
Source: BSE
