Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits

Co-working solutions provider Awfis filed its first quarterly results after going IPO. The Delhi based company witnessed 10.9% revenue growth with the profits spiking 102.9% during the same period.

Awfis’ revenue increased  to Rs 258 crore in Q1 FY25 from Rs 232 crore in Q4 FY24, as per its unaudited consolidated financial statements filed with the National Stock Exchange (NSE).

Income from renting of co-working space and allied services contributed 72% of the firm’s total operating revenue while construction and fit-out projects contributed 26% . 

On a sequential basis, its operating revenue increased by 37.31% from Rs 187.7 crore in Q1 FY24.

Awfis’ total expense increased by 10.57% to Rs 265.08 crore in Q1 FY25 from Rs 239.79 crore in Q4 FY24. Subcontracting cost and purchase of traded goods accounted for 24% of the total expense. Employee benefit, depreciation and amortization and finance costs were some other major expenses for the 10-year-old company.

The consistent growth in scale helped Awfis to double its profit which stood at Rs 2.78 crore in Q1 FY25 as compared to Rs 1.37 crore in Q4 FY24. For context, Awfis posted a loss of Rs 8.3 crore in Q1 FY24.

Awfis is currently trading at Rs 669.7 (as at the end of August 13) with the market capitalization of Rs 4648 crore (approximately $560 million).