Awfis reports 42% revenue growth in FY25, driven by aggressive expansion, a unique managed aggregation model, and diversified services. With plans to add 40,000 more seats and expand into Tier-2 cities, the company aims to scale its platform-led model and solidify its leadership in India’s flexible workspace sector.
Aggressive Expansion Drives Revenue Surge
India’s leading flexible workspace provider, Awfis, has reported an impressive 42% year-on-year revenue growth in FY25, driven by an aggressive expansion strategy and diversified service offerings. “We had around 50 centres in March 2020. Today, we have 210 live centres, with another 40 in the pipeline,” said Amit Ramani, Chairman & MD of Awfis, in a recent interview with Deccan Chronicle. This explosive growth included the addition of 40,000 new seats in FY25 and a significant push into high-end Elite centres tailored for MNCs and Global Capability Centres (GCCs).
A Decade of Evolution: From Startups to Enterprises
Over the past 10 years, Awfis has evolved from a startup-focused coworking brand into a comprehensive workplace solutions provider. “Our managed aggregation model, where we share risk with landlord partners, now covers 67% of our centres,” Ramani explained. The company has also introduced multiple verticals—from IT and mobility solutions to food and beverage services—all under a single platform. This integrated approach positions Awfis as a one-stop solution for modern workplace needs.
Design & Build Services Set to Soar
Awfis’ in-house design and build services have emerged as a significant revenue driver, contributing 25% of total earnings with a 36% annual growth rate. “For managed offices, design builds allow us to deliver spaces according to client specifications while controlling quality and speed,” Ramani said. The company’s ability to manage the whole supply chain has proven especially effective in delivering high-quality spaces quickly and cost-effectively, a critical factor in client satisfaction.
Occupancy Strategy and FY26 Outlook
As of FY25, Awfis operates at a 73% blended occupancy rate, with mature centres reaching up to 84%. “We expect new centres to hit 85% occupancy within 6–12 months,” said Ramani, adding that this maturing portfolio will further enhance contribution margins. For FY26, the company is targeting 30% growth and an additional 40,000 seats, expanding its elite product line and vertical business units.
Managed Aggregation: A Unique Growth Engine
Awfis’ Managed Aggregation model, where landlords contribute 80% of the capital investment, has been key to maintaining high returns. “It allows landlords to earn more than traditional rent while we offer end-to-end solutions,” Ramani stated. The model now lives across 50 locations in 18 cities, helping Awfis achieve a return on capital employed of 70% last year.
Tier-2 Cities and Market Diversification
Ramani sees strong potential in Tier-2 markets like Indore and Nagpur, where demand has surged post-pandemic. “Indore had 45% vacancy three years ago—today, there’s no space left,” he noted. While compliance remains challenging in some smaller cities, improved infrastructure and lower costs drive demand. Awfis plans to open new centres in cities like Vijayawada while strengthening its presence in Tier-1 hubs.
Future-Focused, Platform-Driven
As Awfis gears up for the second half of FY26, its focus will remain on capacity expansion, product diversification, and scaling up ancillary services. With flexible work here to stay, Awfis’ blend of strategic partnerships, managed risk, and full-service offerings positions it to lead India’s evolving office space ecosystem.
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