Awfis Space Solutions has launched two new coworking centres in Bengaluru, adding 66,846 sq. ft. to its portfolio. With plans to expand further, Awfis now operates 1,12,038 seats across 185 centres in India. The company reported a net profit of Rs 1.37 crore in Q4 FY24, reflecting strong growth.
Awfis Space Solutions, a leading provider of flexible workspaces in India, has launched two new coworking centres in Bengaluru. Following the announcement, the company’s stock soared 12.12% to Rs 883.60, reflecting strong investor confidence in its expansion strategy. The new Mantri Commerce and Vista Pixel centres add 66,846 square feet of premium workspace to Awfis’s portfolio.
Both centres are strategically situated in prime locations with excellent connectivity to Bengaluru’s central business districts. They offer a range of amenities, including advanced technology and facility management services, catering to the evolving needs of modern businesses. This expansion is part of Awfis’s broader growth strategy, which aims to increase its footprint across India.
As of June 2024, Awfis operated 1,12,038 seats across 185 centers, covering 5.6 million square feet in 17 cities. The company plans to add 40,000 new seats in FY25, bringing its total capacity to 135,000 seats by the end of the fiscal year. This aggressive expansion underscores Awfis’s commitment to meeting India’s growing demand for flexible workspaces.
“We are focused on providing innovative workspace solutions that cater to the dynamic needs of businesses and professionals,” said a spokesperson from Awfis. The company offers a variety of workspace solutions, including coworking spaces, customised managed offices, and mobility solutions. Additionally, Awfis provides design and build services through Awfis Transform and facility management services through Awfis Care, making it a comprehensive platform for modern workspace needs.
Financially, Awfis Space Solutions has shown remarkable improvement. The company reported a net profit of Rs 1.37 crore in Q4 FY24, a significant turnaround from a loss of Rs 13.85 crore a year ago. Revenue also substantially increased, jumping 45.2% year-over-year to Rs 232.32 crore in Q4 FY24.
This expansion in Bengaluru, coupled with strong financial performance, positions Awfis as a key player in India’s coworking and flexible office space industry. As the company continues to grow, it remains committed to delivering high-quality, flexible workspace solutions that meet the needs of today’s businesses.
