Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.

Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.

The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (GCCs) and multi-centre clients. Its construction and fit-out business, Transform, grew 25 per cent to Rs 730 million during the quarter.

Awfis added seven centres during the quarter, taking its network to 251 centres with around 170,000 seats across 18 cities and nearly 3,600 clients. Occupancy at centres operational for more than 12 months stood at 83 per cent, while overall portfolio occupancy was 76 per cent.

The company currently serves more than 100 GCC clients, which contribute 24 per cent of its rental revenue. It is also increasing the share of premium Grade A+ properties, with new premium inventory expected to command pricing 30-50 per cent higher than its existing portfolio.

Awfis reported a return on capital employed of 55 per cent and a net debt-to-equity ratio of -0.08. Its cost of borrowing declined to 9.05 per cent, while it maintained an A+ credit rating with a Stable Outlook.

The company expects demand from enterprises and GCCs, expansion of premium centres, managed offices and integrated workplace solutions to support its growth across India.