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Awfis Space Solutions Ltd, a prominent co-working space provider, reported a significant increase in its consolidated net profit for the March quarter, soaring to INR 11.23 crore from INR 1.37 crore during the same period a year earlier. Its total income for the quarter rose to INR 359.45 crore compared to INR 241.10 crore previously. Over the 2024-25 financial year, the company swung to a net profit of INR 67.87 crore, a stark turnaround from the net loss of INR 17.56 crore recorded in the preceding year. Total income during the fiscal climbed to INR 1,260.7 crore from INR 874.8 crore. In a major leadership change, Sumit Lakhani was elevated as the Chief Executive Officer.
Co-working space provider Awfis Space Solutions Ltd reported a remarkable jump in its consolidated net profit for the quarter ending in March, which rose multi-fold to INR 11.23 crore. This marked a significant rise from the INR 1.37 crore it had posted during the same quarter last year. Advertisement
The company's total income for the March quarter saw a substantial increase as well, reaching INR 359.45 crore, up from INR 241.10 crore in the corresponding quarter of the previous fiscal, as detailed in a regulatory filing shared earlier this week.
For the full financial year 2024-25, Awfis achieved a net profit of INR 67.87 crore. This turnaround was notable given that the company had registered a net loss of INR 17.56 crore in the previous fiscal. The total income during the year also surged to INR 1,260.7 crore from INR 874.8 crore in the 2023-24 period.
In a key leadership move, the company also announced that Sumit Lakhani had been elevated to the role of Chief Executive Officer. His promotion underscores a strategic shift as the company continues to scale and evolve within India's competitive co-working sector.
Currently, Awfis operates more than 200 centres across 18 cities, offering a seating capacity of 1.34 lakh. Over the past few years, the company has steadily expanded its footprint, becoming a dominant player in the flexible workspace ecosystem in India.
With a solid financial rebound and a leadership change signalling further transformation, Awfis appears poised for sustained growth. As the co-working segment continues to evolve in urban India, Awfis' expanding footprint and renewed focus on profitability may well position it as a frontrunner in shaping the future of modern office culture.
Source - PTI
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