+
Awfis Space Solutions posts net profit of Rs 27.8 Mn
ECONOMY & POLICY

Awfis Space Solutions posts net profit of Rs 27.8 Mn

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.     

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.     

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code