In a significant turnaround, Awfis Space Solutions Ltd has recorded a ₹15.17 crore net profit in the third quarter of FY24, a sharp contrast to the ₹6.28 crore loss reported in the same period a year ago. The company’s total income jumped 47% year-on-year to ₹331.46 crore, signalling strong demand for managed office spaces nationwide.

The impressive financial growth comes from rapid expansion, as Awfis has added 27,000 seats and 33 new centres since March 2024. With this expansion, the company now operates 1,20,000 seats across 193 centres, further cementing its position as a leading provider of flexible workspaces in India. Amit Ramani, Chairman and Managing Director of Awfis, emphasized the company’s growth strategy, stating, “We remain confident in reaching our target of 1,35,000 operational seats by March 2025.”

Awfis’s success reflects the growing demand for shared office spaces, fueled by the rise of hybrid work models and the increasing adoption of coworking solutions by startups, SMEs, and large enterprises. Businesses increasingly seek cost-effective, scalable workspace solutions, positioning Awfis as a key player in the industry’s ongoing transformation.

The company’s strong financial performance underscores its commitment to expanding its footprint while ensuring profitability in a highly competitive market. With coworking demand expected to rise further, Awfis’s ability to scale efficiently and maintain consistent revenue growth places it in a favourable position within the sector.

Moving forward, Awfis aims to maintain its growth momentum, with a target of reaching 1,35,000 seats by March 2025. This continued expansion will enable the company to meet the evolving needs of India’s dynamic workforce while solidifying its leadership in the flexible workspace industry.