Awfis Space Q2 results: Net profit falls 59% YoY, revenue up 26%

Awfis Space Solutions, a Delhi-based flexible workspace provider, reported a 58.8% year-on-year decline in net profit at ₹15.9 crore for Q2 FY26, compared to ₹38.6 crore in the same period last year.

Revenue rose 25.5% to ₹366.8 crore from ₹292.3 crore, supported by healthy demand for flexible workspaces across metros and Tier-II cities.

EBITDA jumped 32.7% YoY to ₹132.3 crore from ₹99.7 crore, with margins improving to 36% from 34.1%, reflecting operational efficiency amid continued network expansion.

In an earlier interaction with CNBC-TV18, Chairman and Managing Director Amit Ramani said Awfis is targeting a 30% revenue growth in FY26, driven by capacity expansion, allied services, and demand from Global Capability Centres (GCCs).

The company currently operates 232 centres with 1.55 lakh seats and has signed letters of intent for another 10,000 seats. “We are targeting about 40,000 seats to be added this year — same as last year. We have clear visibility of about 30,000 right now, and another 10,000 we will add over the next eight months,” Ramani said. By year-end, Awfis expects to reach 1.75 lakh seats, with a 65:35 split between managed aggregation and trade lease spaces.

Ramani also added that Awfis is expanding aggressively in Tier-II cities, which now account for nearly 10% of its total portfolio — around 17,000 seats. “We are already in 18 cities, and Vijayawada will be the 19th,” he said, adding that the company aims to reach 20 cities by the end of this year.

In Mumbai, Awfis has crossed one million sq. ft. of workspace across 34 locations, with its latest 50,000 sq. ft. addition at Supreme Business Park, Powai. About 65% of the space has been leased by Howden Insurance Brokers. Over the past six months, Awfis has also signed 11 new GCCs across India, strengthening its foothold among global clients seeking flexible and scalable workspace solutions.

Shares of Awfis Space Solutions ended higher on Tuesday, November 11, by 4.94% at ₹637.10 on the NSE.

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