Awfis Q3 Results: Profit jumps 43%, margins expand on strong enterprise demand

Awfis Space Solutions Limited on Monday, February 2, reported a strong set of earnings for the December quarter, with profit and margin expanding on the back of robust demand from enterprise and global capability centre (GCC) clients.

The flexible workspace provider posted a 43% year-on-year jump in consolidated net profit to ₹21.6 crore in Q3FY26, compared with ₹15.1 crore a year ago. Revenue from operations rose 20% YoY to ₹381.7 crore, up from ₹317.7 crore in the corresponding quarter last year.

Operating performance also strengthened, with EBITDA rising 30% YoY to ₹139 crore, while EBITDA margin expanded to 36% from 34.1%, aided by scale efficiencies, a higher share of mature centres and operating leverage.

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Commenting on the performance, Chairman and Managing Director Amit Ramani said the performance was "driven by sustained demand across enterprise and GCC clients, disciplined execution, and the continued strength of our capital-efficient expansion strategy."

During Q3FY26, Awfis added 10 new centres, taking its total network to 257 centres with around 1.77 lakh seats across 18 cities. The company continues to rely heavily on its Managed Aggregation (MA) model, which now accounts for about 62% of signed supply, supporting faster expansion and superior returns.

GCCs remained a key growth driver, with over 80 GCC clients contributing around 21% of rental revenue, while multi-centre clients accounted for 46% of the overall client base, reflecting deeper enterprise relationships.

For the nine months ended December 31, 2025, Awfis reported operating revenue of ₹1,083 crore, up 25% YoY, while operating EBITDA rose 39% YoY to ₹398 crore. PAT for the nine months (excluding exceptional items) stood at ₹48 crore, marking a 50% year-on-year increase.

Awfis said industry tailwinds remain favourable, supported by sustained office leasing momentum and growing preference for flexible and managed workspace solutions across Tier 1 and Tier 2 cities.

Shares of the company ended Monday's session at 0.96% lower at ₹385.95, ahead of the Q3 results announcement. The stock has declined 35.13% in the past six months.