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Awfis expands into furniture biz to tap new revenue stream, cut costs

EntrackrEntrackr · 15h ago
Awfis expands into furniture biz to tap new revenue stream, cut costs
Medial

Awfis expands into furniture biz to tap new revenue stream, cut costs Co-working solutions provider Awfis has entered the business of manufacturing and selling furniture, marking a notable diversification from its core co-working space operations. This move follows shareholder approval for amending the company’s Memorandum of Association to include this new line of business. The company said the expansion is aimed at reducing costs associated with setting up and furnishing its coworking centres through vertical integration. By manufacturing and sourcing furniture in-house, Awfis expects to achieve significant cost savings and improve operational efficiencies. Awfis also plans to offer complete office furniture and furnishing solutions to third-party clients. According to the filing, the company will now be able to produce, import, export, trade, and repair all kinds of furniture and related items, including carpets, rugs, curtains, blinds, glass goods, woodwork, and home decor products. The amended object clause gives Awfis the flexibility to operate as a manufacturer, retailer, wholesaler, stockist, agent, and service provider for furniture made from a wide variety of materials such as wood, steel, plastic, leather, fibre, and more. It also opens up opportunities in ancillary services like cleaning, upholstery, packing, and moving, according to the company’s disclosure. In the last quarter (Q4 FY25), Awfis saw a 47% year-on-year increase in its revenue to Rs 340 crore, compared to Rs 232 crore in the same quarter last year. Its profit also jumped 8X to Rs 11.2 crore during this period. For the full year FY25, the company reported Rs 1,208 crore in revenue and a profit of Rs 68 crore. Awfis is currently traded at 644.20 (as of 10.41 AM) with a total market capitalization of Rs 4,593 crore ($540 million).

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Awfis posts Rs 340 revenue and 8X profit jump in Q4 FY25

EntrackrEntrackr · 1m ago
Awfis posts Rs 340 revenue and 8X profit jump in Q4 FY25
Medial

Co-working solutions provider Awfis demonstrated notable financial performance in the last quarter of FY25, recording a 47% year-on-year growth in revenue and an 8X increase in profit during the same period. Awfis’ revenue from operation increased to Rs 340 crore in Q4 FY25 from Rs 232 crore in Q4 FY24, as per its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). When it comes to the full fiscal year (FY25), Awfis’ operating revenue increased over 40% to Rs 1,208 crore in FY25. Importantly, the firm also turned profitable on a yearly basis registering Rs 68 crore profit in FY25. Income from co-working space rentals and allied services accounted for 79% of Awfis's total operating revenue, which grew by 60% year-over-year to Rs 269 crore in Q4 FY25, up from Rs 168 crore in Q4 FY24. Other revenue contributors included construction and fit-out projects, facility management, and the sale of food items. Awfis also earned other income of Rs 18 crore during the quarter, bringing its overall revenue to Rs 358 crore in the last quarter of FY25. Founded in 2015, Awfis offers customized office spaces for startups, SMEs, and large corporations, including ancillary services like food and beverages, IT support, and infrastructure services, among others. Awfis’ total expenses increased by 45% year-on-year to Rs 347.5 crore in Q4 FY25 from Rs 240 crore in Q4 FY24. Depreciation and amortization expenses was the largest cost centre for the co-working firm, accounting for 23% of total expenses which rose 60% to Rs 82 crore. Subcontracting costs and purchase of traded goods increased by 27% to Rs 66 crore. The rest of the major expenses include employee benefit expenses which declined 19% to Rs 29.5 crore and finance costs jumped 79% to Rs 42.6 crore. The 47% YoY growth helped Awfis register over 8X profit year-on-year of Rs 11.2 crore in Q4 FY25 as compared to Rs 1.4 crore in Q4 FY24. Awfis ended the day at Rs 648.10 per share, with a total market capitalization of Rs 4,599 crore (approximately $541 million). Along with Q4 FY25 results, Awfis also elevated Sumit Lakhani chief executive officer (CEO) of the company from deputy CEO. Lakhani joined Awfis in May 2015 as chief marketing officer (CMO) of the company.

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