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• Awfis Space Solutions Limited has received No-Objection Letters from both BSE and NSE for the reclassification of certain shareholders from the ‘Promoter and Promoter Group’ category to the ‘Public’ category.
• The No-Objection Letters are reference no LIST/COMP/AP/191/2025 -26 dated June 2, 2025 from BSE Limited and NSE/LIST/COMP/AWFIS /471/ 202 5-2026 from National Stock Exchange of India Limited.
• The reclassification pertains to the following promoters and promoter groups:
• Peak XV Partners Investments V holding 23,15,525 equity shares representing 3.269% shareholding.
• Amogha Polymers India Private Limited, Cue Learn Private Limited, Digital Technologies Limited, Faces Investment Holdings, Finova Capital Private Limited, Fintech Blue Solutions Private Limited, Insider SG Pte. Ltd, Loconav, Inc, M-League Limited, Minions Ventures Private Limited, Mycash Fintech Pte. Ltd, Nugit Pte. Ltd, Oncostem Pte Ltd, Rupeek Fintech Private Limited, Trust IQ Pte. Ltd, Vymo Inc., Peak XV Partners V Limited all holding 0 shares

Awfis Space Solutions Limited has secured a Rupee Term Loan facility of ₹ 80 crore (INR 800.00 million) from ICICI Bank Limited. This facility includes a dropline overdraft limit of ₹ 30 crore (INR 300.00 million).

Key details of the loan are:

• The purpose of the facility is to fund capital expenditures for existing centers, establish new centers, and for reimbursement of eligible expenditures.
• The principal amount of the facility shall be repaid within a maximum of 48 equal monthly installments, commencing from the date of disbursement of the first tranche.
• The loan agreement/sanction letter was executed on June 2, 2025.
• Security provided to the lenders includes:
  • First pari-passu charge, by way of hypothecation, on the entire current assets of the company (other than assets provided as exclusive security to other lenders), together with cash in hand, bank accounts, and receivables.
  • Exclusive charge on movable fixed assets of the identified centers.
  • Exclusive charge on cash flows of the identified centers.

Awfis Space Solutions Limited announced robust financial and operational performance for Q4 FY'25 and the full financial year FY'25, along with strategic initiatives and leadership changes.

• Financial Highlights (FY'25):

  • Consolidated operating revenue grew by 42% year-on-year (Y-o-Y) to ₹1,208 crore, surpassing the initial guidance of 30%.
  • Operating EBITDA increased by 64% Y-o-Y to ₹402 crore, with a margin of 33.3%, an improvement of 440 basis points over FY'24, exceeding guidance.
  • Co-working allied services revenue grew 48% to ₹916 crore, contributing 76% of total revenue.
  • Construction fit-out projects, including Design & Build business, grew 36% to ₹278 crore, accounting for 23% of revenue.
  • PBT (excluding exceptional items) stood at ₹97 crore, compared to ₹13 crore in FY'24.
  • Maintained strong liquidity with ₹130 crore in cash, bank, and FD balances, with gross debt at ₹23 crore, resulting in a debt-equity ratio of 0.05.
  • Return on Capital Employed (ROCE) improved from 43% in FY'24 to 62% in FY'25.

• Financial Highlights (Q4 FY'25):

  • Consolidated operating revenue was ₹340 crore, a 46% Y-o-Y growth.
  • Operating EBITDA reached ₹116 crore, a 73% Y-o-Y growth, with a margin of 34.1% (520 bps improvement).
  • PBT (excluding exceptional items) was ₹12 crore, up from ₹1 crore in Q4 FY'24.

• Operational Highlights (FY'25):

  • Added approximately 39,000 new seats, bringing total operational capacity to around 134,000 seats across 208 centers nationwide as of March 2025.
  • Total capacity, including centers in fit-out phase and under LOIs, now stands at over 164,000 seats across 243 centers, covering 8.4 million square feet.
  • Expanded into 9 Tier 2 cities and 5 new micro markets.
  • Exit month occupancy reached 73% as of March 2025, with centers operational for over 12 months recording 84% occupancy.
  • Signed contracts for 53,000 new seats in FY'25.
  • Approximately 66% of occupied seats are taken by large corporates and MNCs.
  • Average client tenure is 33 months with an average lock-in period of 24 months.

• Management Commentary & Future Outlook:

  • Mr. Amit Ramani, Chairman and Managing Director, congratulated Mr. Sumit Lakhani on his appointment as Chief Executive Officer, highlighting his instrumental role in Awfis' success and his new responsibilities in overseeing P&L, daily operations, and customer-centric initiatives.
  • The company plans a two-pronged strategy for FY'26: focusing on driving higher occupancy rates in the first half for centers that went live in Q3 and Q4 FY'25, and prioritizing strategic capacity expansion in the second half.
  • Guidance for FY'26 includes adding a similar number of seats as FY'25 (~39,000), achieving revenue growth closer to 30%, and maintaining margins similar to FY'25 with a potential upward bias.
  • Awfis will strengthen its position for large-scale tailored workplace solutions, especially for enterprise clients and Global Capability Centers (GCCs), and plans to launch 'Design 6.0' for co-working spaces.
  • Expansion of Design & Build capabilities is planned to cater to broader sectors and larger mandates, with a focus on innovation.
  • The company will scale high-margin allied services, including Awfis Café (expanding to external clients), Awfis TechLabs, transportation services (through a strategic partnership with Eco Mobility), and event management services.
  • Regarding taxation, the company expects to utilize carried-forward losses for the main entity through FY'26, with potential tax outgo in Q4 FY'26 or Q1 FY'27.
  • Awfis is exploring backward integration into furniture manufacturing and retailing (B2B focused) to service captive demand and expand into a new service line, leveraging its existing client base.