Awfis Space Solutions posts net profit of Rs 27.8 Mn

14 Aug 2024 CW Team

Awfis Space Solutions, a flexible workspace solutions provider, has reported net consolidated profit after tax of Rs 27.8 million during the quarter ended June 30, 2024. The company's net consolidated total income stood at Rs 267.87 million in Q1 FY25, it said in a BSE filing.

During the quarter ended June 30, 2024, the company has completed its initial public offer (IPO) of 15,639,638 equity shares of face value Rs 10 each at an issue price of Rs 383 per share. The issue comprised of 21.38% fresh issue aggregating to Rs 1,280 million and 78.62% offer for sale aggregating to Rs 4,709.3 million pursuant to IPO.

The total offer expenses are estimated to be Rs 509.83 million (inclusive of taxes), out of the total estimated expenses Rs 400.22 million (inclusive of taxes) is to be borne by selling shareholders.

As of June 30, 2024, the company has surpassed 100,000 operational seats and 169 operational centers. In Q1 FY25, it witnessed net addition of 5,368 seats and nine centers.

It achieved an exit month occupancy rate of 71%, with 84% occupancy at centers with over 12 months vintage. It continues its focus on maintaining an asset-light and risk-averse managed aggregation (MA) model, with maintaining a 64% concentration of centers and 67% of seats in the MA model.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..