Awfis Space Solutions reported a strong operational and financial performance for Q3 FY26, driven by sustained demand, disciplined execution, and capital-efficient expansion. Revenue grew by 20% year-on-year to Rs. 382 crores, with Operating EBITDA rising by 30% to Rs. 139 crores. The company expanded its network to 257 centres with approximately 177K seats across 18 cities.
Financial Performance Highlights
Awfis Space Solutions showcased significant financial growth in Q3 FY26:
- Revenue increased by 20% year-on-year to Rs. 382 Cr.
- Co-working & Allied Services segment grew by 32% year-on-year to Rs. 322 Cr.
- Operating EBITDA rose by 30% to Rs. 139 Cr, with an EBITDA margin of 36.5%.
- PBT for the quarter increased to Rs. 22 Cr.
- Annualized ROCE stood at 66%, and ROE at 17%.
Network Expansion
The company continued to expand its network, adding 10 new centres during the quarter. Key metrics include:
- Total network reached 257 centres with approximately 177K seats.
- Presence across 18 cities, including Tier 1 and Tier 2 markets.
- Serving around 3.4K customers.
Managed Aggregation (MA) Model
Awfis continues to leverage its capital-efficient MA model for expansion:
- Approximately 62% of signed supply is under the MA model.
- A strong pipeline of 8 lakh sq. ft. is secured across prime micro-markets.
Evolving Demand Dynamics
The company is witnessing strong traction across client cohorts:
- Multi-centre clients now account for around 46% of the client base.
- Occupancy remains healthy, supported by a favorable seat cohort mix.
- The 500+ seat cohort represents 36% of the total portfolio.
Growth in GCC Portfolio
GCCS are emerging as a significant growth driver:
- The portfolio includes 80+ unique GCC clients.
- GCCs contribute to a 21% rental revenue share.
Supply Highlights
- Signed Supply: 257 Centres, 177K Seats, 8.6 Mn Sq. Ft.
- Total Supply: 246 Centres, 166K Seats, 8.1Mn Sq. Ft.
- Operational Capacity: 152K Seats
- 100% of new supply in Grade A/A- assets.
Source: BSE
