SUMMARY
- Awfis’ revenue from operations jumped 40.5% YoY to Rs 292.38 crore in Q2 FY25.
- There was a 13.46% increase in revenue from operations from Rs 258 crore in Q1 FY25.
- Financing costs amounted to Rs 30.4 crore, taking the company’s total expenses to Rs 287.29 crore.
Co-working solutions provider Awfis‘ revenue from operations jumped 40.5% YoY to Rs 292.38 crore in Q2 FY25 from Rs 208.15 crore in Q2 FY24.
Additionally, Awfis posted an extra income of Rs 9.56 crore from other sources, taking its total revenue for the quarter to Rs 301.95 crore. There was a 13.46% increase in revenue from operations from Rs 258 crore in Q1 FY25.
Established in 2015, Awfis supports startups, SMEs, and large corporations by offering office spaces and a range of services including catering, IT support, and infrastructure solutions.
The revenue from co-working spaces remained the largest, jumping 43.1% to Rs 218.31 crore in Q2 FY25 from Rs 152.56 crore in Q2 FY24. Revenue from construction and fit-out projects saw a growth of Rs 68.15 crore, while other services contributed an additional Rs 5.9 crore to the total revenue for the quarter.
The company noted the highest operating expenses in the form of subcontracting costs at Rs 56.13 crore, with employee benefits expenses rising to Rs 39.38 crore. Depreciation and amortization costs also saw a 33.5% YoY surge to Rs 64 crore.
Financing costs amounted to Rs 30.4 crore, taking the company’s total expenses to Rs 287.29 crore in the September quarter. Awfis posted an exceptional item income of Rs 24 crore, resulting in a profit after tax of Rs 38.67 crore.
Awfis’ shares were listed on the NSE on May 30, opening at Rs 435, showing a 13.58% premium over the issue price of Rs 383.
