Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x

Co-working solutions provider Awfis, has announced its financial results for the first quarter of FY26 registering decent growth in its revenue while more than tripling its profit in the first quarter of FY26.

The company’s revenue from operations grew 30% year-on-year to Rs 335 crore in Q1 FY26 from Rs 258 crore in the same quarter last year, according to its financial statement sourced from NSE.

Other income contributed an additional Rs 18 crore which drove its total income of Rs 353 crore for the quarter. On a quarterly basis, the firm’s revenue fell 1.5 % from Rs 340 crore in Q4 FY25.

Founded in 2015, Awfis provides office spaces for startups, SMEs, and large corporations, along with services such as food and beverages, IT support, and infrastructure solutions.

Revenue from co-working spaces remained the largest segment that grew 49% to Rs 276 crore in Q1 FY26 from Rs 185 crore in Q1 FY25. The construction and fit-out projects segment brought in Rs 58 crore, while other services brought in Rs 1 crore to the overall revenue in Q1 FY26.

On the expense side, depreciation was the largest burn which stood at Rs 86 crore, whereas employee benefits expenses decreased to Rs 30 crore. Subcontracting expenses fell 15% YoY to Rs 47 crore.

Finance costs amounted to Rs 46 crore which pushed the firm’s total cost  to Rs 343 crore in the previous quarter. 

Due to steady growth and controlled expenses, Awfis’ profit surged 3.5X to Rs 10 crore in Q1 FY26, from Rs 2.8 crore in Q1 FY25.

Awfis has allotted 136,777 Employee Stock Options, currently valued at Rs 7.6 crore, as part of its 2024 Employee Stock Option Scheme.

Awfis’ stock is trading at Rs 557(as of 16:12 PM) with a total market capitalization of Rs 3,971 crore (approximately $453 million).