Awfis Q2 Profit Plunges 59% YoY to INR 16 Cr

Coworking space provider Awfis’ consolidated net profit for the second quarter (Q2) of FY26 plunged 59% to INR 16 Cr from INR 38.7 Cr in the year-ago quarter. On a sequential basis, profit zoomed 60% from INR 10 Cr.

Operating revenue surged 25% YoY and 10% QoQ to INR 366.9 Cr in Q2 FY26. Including other income of INR 26.1 Cr, total income for the period under review stood at INR 393 Cr.

Meanwhile, Awfis’ total expenditure for the quarter grew 31% YoY and 10% QoQ to INR 376.6 Cr.

The company’s operational EBITDA surged 32% YoY to INR 132 Cr, while EBITDA margin stood at 36.1%.

In terms of top line contribution, revenue of ‘coworking space on rent and allied services’ grew 36% YoY to INR 297.4 Cr, while revenue of ‘construction and fit out projects’ segment remained largely flat at INR 69.5 Cr.

The coworking space provider added 8,000 seats during the quarter under review, taking its total operational capacity to 1.47 Lakh seats. At the end of the September quarter, Awfis’ total number of centres stood at 237, with about 99 centres spread across Southern India and 79 in Western India.

The company had a presence in 18 cities across the country, including nine tier I and nine tier II cities, at the end of Q2. Of this, 89%, or 212 centres, were present in tier I cities like Delhi NCR, Mumbai, Bengaluru.

In its investor presentation, the company said it will focus on the value segment at premium locations to cater to GCCs, large enterprises, and premium clients.

“The entry of new mid-sized GCCs and the expansion of long-standing clients underscores Awfis’ ability to cater across the full spectrum of client requirements. This momentum is reflected in the growing contribution of large cohorts, with the 500+ seat cohort now representing 34% of our total portfolio highlighting the maturity, stability, and stickiness of our enterprise client base,” Awfis CMD Amit Ramani said.

The company also said that its board gave its in-principle nod to sell its “design and build” business to a wholly owned subsidiary. This subsidiarisation of its “Awfis Transform” business would enable the next phase of growth in the segment, Ramani said.

“As a wholly owned subsidiary, it will gain greater flexibility to scale independently, pursue new markets, and present standalone financials, enabling clearer performance visibility,” he added.

Besides, the board also approved enhancing the company’s credit facility with ICICI bank to INR 50 Cr.

Shares of Awfis ended today’s trading session 4.18% higher at INR 631.55 on the BSE.

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