Awfis to sell facility management division for Rs 275 million

12 Sep 2024 CW Team

Flexible workspace provider Awfis Space Solutions Limited has signed a business transfer agreement with SMS Integrated Facility Services Private Limited (SMS IFS) to divest its facility management arm, Awfis Care, for Rs 275 million. Maple Capital Advisors acted as the sole advisor for the transaction, which is expected to be completed within 120 days.

SMS IFS, backed by Samara Capital, is a leading integrated facility management company in India, overseeing over 5,000 sites for more than 500 clients across Tier 1, Tier 2, and Tier 3 cities. The firm employs over 21,000 people and offers services ranging from soft services and technical support to sustainability consulting.

Legal counsel for Awfis was provided by Singhania & Co. This divestment allows Awfis to leverage SMS’s expertise in areas like digital operations, cost optimisation, and people management, ultimately reducing administrative overheads and improving operational efficiency.

(ET)

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..