Awfis Space Solutions Reports Highest Ever Revenue of Rs. 1,493 Cr for FY26, Driven by Co-working Growth
Mumbai, May 25, 2026: Awfis Space Solutions Limited (Awfis), India's flexible workspace solutions provider, today announced its audited financial results for the full year and quarter ending March 31, 2026. The company reported strong performance, achieving its highest-ever annual revenue of Rs. 1,493 Cr.Amit Ramani, Chairman and Managing Director of Awfis Space Solutions Limited, highlighted that Fiscal Year 2026 marked a defining year for the company. The annual revenue of Rs. 1,493 Cr reflected a 24% year-over-year (YoY) growth, substantially driven by a 35% YoY increase in the co-working business.
Operating EBITDA grew 37% YoY, reaching Rs. 550 Cr. This growth resulted in expanded margins of 36.8%, while Profit Before Tax (PBT) stood at Rs. 72 Cr. The company also reported an industry-leading Return on Capital Employed (ROCE) of 60%, signaling strong capital efficiency and disciplined execution across the platform.
Strong Q4 Performance Bolsters Annual Results
The momentum continued into the final quarter. Q4 FY26 marked the highest-ever quarterly revenue, EBITDA, and profitability for Awfis. Quarterly revenue stood at Rs. 410 Cr, showing a 21% YoY growth, primarily fueled by robust co-working business growth of 27% YoY.Operating EBITDA for Q4 grew 31% YoY to Rs. 152 Cr, with operating EBITDA margins expanding to 37%. PBT for the quarter was reported at Rs. 24 Cr.
Operational Growth and Network Expansion
Over the course of FY26, Awfis significantly scaled its physical network, adding 41 new centers and accommodating 30,000 operational seats. This expanded the signed network to 266 centers with approximately 184,000 seats spanning 18 cities across Tier 1 and Tier 2 markets.The growth was primarily supported by sustained demand from enterprise and Global Capability Centers (GCCs). The company noted that GCCs and Fortune 500 companies are becoming a structural and growing part of their revenue base. Currently, over 100 unique GCC clients contribute 23% of the total rental revenue. Furthermore, multi-centre clients constitute 48% of the client base, demonstrating increasing pan-India mandates and strong enterprise engagement.
Financial and Operational Highlights
The key financial and operational metrics for FY26 and Q4 FY26 are summarized below:| Metric | FY26 Consolidated Highlights | Q4 FY26 Consolidated Highlights |
|---|---|---|
| Operating Revenue | Rs. 1,493 Cr (24% YoY growth) | Rs. 410 Cr (21% YoY growth) |
| Revenue Growth Driver | Co-working and allied services (35% YoY) | Co-working and allied services (27% YoY) |
| Operating EBITDA | Rs. 550 Cr (37% YoY growth) | Rs. 152 Cr (31% YoY growth) |
| Operating EBITDA Margin | 36.8% (350 bps expansion) | 37.0% (290 bps expansion) |
| PBT | Rs. 71 Cr (66% YoY growth) | Rs. 23 Cr (107% YoY growth) |
| ROCE | 60% | N/A |
Key Operational Metrics:
| Category | Metric | Details |
|---|---|---|
| Capital Efficiency | ROCE | 60% (Highest among listed flex workspace peers) |
| Revenue / Gross Fixed Assets | 1.5x (Best in the industry) | |
| Net Debt / Equity | -0.20x (Net cash position maintained) | |
| Network Scale | Centers / Seats / Cities | 266 / 184K / 18 |
| Client Base | Share of Enterprise/MNC | 64% |
| Multi-centre clients | 48% of total client base | |
| Occupancy & Demand | Mature Occupancy | 84% |
| 500+ seat cohort contribution | 37% of the total portfolio |
With healthy occupancy, expanding margins, and industry-leading returns on capital, the company stated it enters FY27 with a clear strategy and high confidence in its future growth trajectory.
AWFIS Stock Price Movement
Today, Awfis Space Solutions Limited shares rallied to close at ₹360.6, posting a strong gain of 4.53% following a ₹15.55 increase. The stock traded on a total volume of 831,146 shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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