Awfis Space Solutions has hit a major milestone in its journey—crossing ₹1,200 crore in operating revenue for FY25, a 42% leap from the previous year. The flexible workspace provider, known for catering to startups and large corporations alike, attributes the sharp growth to aggressive network expansion and strong enterprise demand.
This isn’t just a top-line story either. For the first time, Awfis reported a full-year profit before tax. Under Ind-AS standards, the figure stood at ₹44 crore, and a healthier ₹97 crore under IGAAP-equivalent terms—both a marked shift from the red ink of the previous financial year.
The final quarter of FY25 capped things off on a high note. Revenue for Q4 touched ₹340 crore, a 46% year-on-year jump. Net profit for the same period stood at ₹11.23 crore, a dramatic rise from ₹1.38 crore in Q4 of the previous year. EBITDA margins for the quarter climbed to 34.1%, expanding by 520 basis points over the previous year’s Q4.
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Founded in 2015, Awfis has been steadily building its footprint in the shared office space market. FY25 saw the addition of more than 39,000 operational seats, taking the total to over 134,000 across 208 centers. If you factor in facilities under fit-outs and those signed via letters of intent, the company’s total footprint spans nearly 164,000 seats and 8.4 million square feet.
Chairman and Managing Director Amit Ramani confirmed the company had met its FY25 targets head-on. “We promised to cross the 135,000-seat mark by March 2025, and we’ve already done it. Between March 2024 and now, we’ve added 39,000+ seats and opened 48 new centers,” he said.
Enterprise clients were the engine behind much of this growth. Co-working rentals and related services brought in ₹269 crore in Q4 alone, contributing 79% of the quarter’s operating revenue and growing 60% year-over-year. Additional revenue streams included fit-outs, facility management, and food and beverage offerings. Total income for the quarter—including non-operating income—stood at ₹359.4 crore, with ₹19.7 crore attributed to other income.
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Awfis now finds itself in a stronger position not just in terms of scale, but also profitability—something relatively rare in the coworking space industry. With momentum on its side and enterprise demand showing no signs of slowing, the company looks poised for a more ambitious FY26.
