Awfis income crosses Rs 300 Cr in Q2 FY25, posts Rs 38 Cr PAT

Co-working solutions provider Awfis has registered decent growth in its revenue while maintaining profitability in the second quarter of FY25. The company’s revenue from operations surged 40.5% year-on-year to Rs 292.38 crore in Q2 FY25 from Rs 208.15 crore in the same quarter last year. 

Other income contributed an additional Rs 9.56 crore which drove its total income of Rs 301.95 crore for the quarter. On a quarterly basis, the firm's revenue jumped 13.46% from Rs 258 crore in Q1 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  43.1% to Rs 218.31 crore in Q2 FY25 from Rs 152.56 crore in Q2 FY24. The construction and fit-out projects segment brought in Rs 68.15 crore, while other services brought in Rs 5.9 crore to the overall revenue in Q2 FY25.

Subcontracting cost was the largest burn which stood at Rs 56.13 crore, whereas employee benefits expenses increased to Rs 39.38 crore. Depreciation and amortization expenses grew 33.5% YoY to Rs 64 crore.

Finance costs amounted to Rs 30.4 crore which pushed the firm’s total cost  to Rs 287.29 crore in the September quarter. With an exceptional item income of Rs 24 crore, Awfis posted a profit after tax of Rs 38.67 crore.

Awfis’ stock was listed on the NSE on May 30, opening at Rs 435 with a 13.58% premium over the issue price of Rs 383. Before Monday’s market closure, the company’s shares were trading at Rs 776.