AWFIS Space Solutions Ltd
Incorporated in December 2014, Awfis Space Solutions Limited is a workspace solution provider in India.[1]Awfis Space Solutions provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces for startups, small and medium enterprises as well as for large corporates and multi-national corporations. ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and Emkay Global Financial Services Limited are the book-running lead managers to the public issue.
- Market Cap ₹ 1,994 Cr.
- Current Price ₹ 279
- High / Low ₹ 639 / 216
- Stock P/E 20.0
- Book Value ₹ 85.0
- Dividend Yield 0.00 %
- ROCE 13.5 %
- ROE 15.4 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 29.7% CAGR over last 5 years
Cons
- Stock is trading at 3.28 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 17.0%
- Tax rate seems low
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Commercial Services & Supplies Diversified Commercial Services
Part of BSE 1000 Nifty Smallcap 500 BSE Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 154 | 226 | 178 | 257 | 545 | 849 | 1,208 | 1,493 | 1,656 | |
| Sales growth | +47% | -21% | +44% | +112% | +56% | +42% | +24% | +22% | |
| 187 | 223 | 125 | 189 | 388 | 603 | 801 | 937 | 1,029 | |
| Operating Profit | -33 | 3 | 53 | 68 | 157 | 246 | 407 | 557 | 627 |
| OPM % | -22% | 1.5% | 30% | 27% | 29% | 29% | 34% | 37% | 38% |
| 7 | -9 | 38 | 22 | 19 | 25 | 74 | 86 | 98 | |
| Interest | 5 | 9 | 47 | 49 | 73 | 93 | 136 | 186 | 191 |
| Depreciation | 31 | 54 | 87 | 98 | 150 | 196 | 276 | 384 | 432 |
| Profit before tax | -62 | -68 | -43 | -57 | -47 | -18 | 69 | 72 | 101 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 1% | 2% | |
| -62 | -68 | -43 | -57 | -47 | -18 | 68 | 71 | 100 | |
| EPS in Rs | 9.56 | 9.90 | 13.93 | ||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 53% |
| 3 Years: | 40% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 30% |
| 3 Years: | 55% |
| TTM: | 94% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -54% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30 | 30 | 30 | 30 | 30 | 19 | 71 | 72 | 72 |
| Reserves | -67 | -112 | -19 | -75 | -54 | -113 | 388 | 481 | 537 |
| 139 | 248 | 401 | 437 | 693 | 1,079 | 1,413 | 1,501 | 1,525 | |
| 94 | 111 | 96 | 167 | 261 | 413 | 635 | 857 | 947 | |
| Total Liabilities | 197 | 277 | 509 | 560 | 931 | 1,398 | 2,507 | 2,910 | 3,080 |
| 66 | 96 | 300 | 340 | 653 | 916 | 1,580 | 1,701 | 1,756 | |
| CWIP | 4 | 1 | 0 | 9 | 1 | 9 | 18 | 12 | 8 |
| Investments | 32 | 58 | 42 | 16 | 0 | 0 | 0 | 0 | 0 |
| 95 | 121 | 166 | 194 | 277 | 473 | 909 | 1,196 | 1,317 | |
| Total Assets | 197 | 277 | 509 | 560 | 931 | 1,398 | 2,507 | 2,910 | 3,080 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -11 | -8 | 57 | 83 | 195 | 229 | 363 | 616 | |
| -38 | -110 | -38 | -7 | -170 | -163 | -203 | -220 | |
| 62 | 113 | -17 | -80 | -28 | -65 | -124 | -380 | |
| Net Cash Flow | 12 | -5 | 3 | -4 | -3 | 2 | 36 | 16 |
| Free Cash Flow | -54 | -93 | 21 | 14 | 36 | 84 | 163 | 406 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 2% | 22% | 72% | 131% | 133% | 102% | 90% | 118% |
Ratios
Consolidated / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 9 | 9 | 31 | 44 | 32 | 32 | 36 | 34 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 9 | 9 | 31 | 44 | 32 | 32 | 36 | 34 |
| Working Capital Days | -110 | -74 | -86 | -160 | -107 | -71 | -88 | -98 |
| ROCE % | -37% | -0% | -2% | 5% | 9% | 13% | 14% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Active Clients count |
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| Blended Occupancy Rate % |
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| Total Centers (Operational + Under Fitout) count |
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| Total Seats (Operational + Under Fitout) count |
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| Gold and Elite Centers count |
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| Multi-Centre Client Share % |
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| Signed Supply Seats (incl. LOI) count |
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| Unique GCC Clients count |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 and H1 FY2026 earnings call available on website.
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CARE monitoring report for Q2FY27 shows no deviation; Rs 126.66 crore utilized, Rs 1.34 crore pending.
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Appointment of Company Secretary and Compliance Officer
- Q2 FY27 results approved; CS resigned, new CS appointed; Design & Build transfer deferred beyond end-2026.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
Concalls
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Nov 2026Transcript PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Dec 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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Jun 2024Transcript PPT REC
Leading Workspace Provider[1]
Awfis Space Solutions is India’s largest and fastest-growing flexible workspace solutions platform. As of 31 March 2025, the company operated 208 centers with 134,000+ operational seats. Including centers under fit-out and those with signed Letters of Intent (LoIs), the footprint expanded to 243 centers with ~164,000 seats across 8.4 million square feet (msft) of area. Awfis is present across 58 micro-markets in 18 cities, covering 9 Tier 1 and 9 Tier 2 cities.