AWFIS

Awfis Space Solutions Limited

Flexible workspace provider in coworking, managed office and enterprise formats

Services›Services›Commercial Services & Supplies›Diversified Commercial Services

awfis.com

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Key metrics

Price as of 2026-10-16

Stock price

₹244.77

Market cap

1,751 Cr

Stock P/E

20.6

P/B

3.17

ROE (FY26)

12.8%

ROCE (FY26)

42.8%

Operating margin (FY26)

11.1%

Debt / equity (FY26)

0.09

OCF / EBITDA (FY26)

112.1%

OCF / EBITDA (3Y)

100.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Awfis (Awfis Space Solutions) rents out flexible office space in India (coworking centres, managed offices and enterprise workspaces) to large companies, global capability centres (GCCs), small businesses and start-ups, and also runs a design-and-build fit-out business called Transform.

Company snapshot

18thBy market cap

Ranked among 36 companies in Diversified Commercial Services.

Segment mix

Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 74.7% of revenue

Segment	Revenue share	Revenue	PBT	Assets
Co-working space on rent and allied services	74.7%	218 Cr	14 Cr	1,546 Cr
Construction and fit-out projects	23.3%	68 Cr	6 Cr	117 Cr
Others	2.0%	6 Cr	-0.05 Cr	8 Cr

What we see

Positives

✓101% of operating profit came in as cash over the last three years — profits are backed by real cash.

Concerns

✗Interest coverage of 0.9x — earnings barely cover interest payments, which is a warning sign.

1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	232 Cr	258 Cr	292 Cr	318 Cr	340 Cr	335 Cr	367 Cr	382 Cr	410 Cr	425 Cr
Operating expenses (approx.)	165 Cr	179 Cr	192 Cr	210 Cr	224 Cr	208 Cr	235 Cr	243 Cr	258 Cr	263 Cr
EBITDA	67 Cr	79 Cr	100 Cr	107 Cr	116 Cr	127 Cr	132 Cr	139 Cr	152 Cr	162 Cr
OPM %	28.9%	30.7%	34.3%	33.8%	34.1%	37.8%	36.1%	36.5%	37.0%	38.2%
Other income	9 Cr	10 Cr	10 Cr	14 Cr	20 Cr	18 Cr	26 Cr	29 Cr	19 Cr	24 Cr
Interest	24 Cr	28 Cr	30 Cr	35 Cr	43 Cr	46 Cr	47 Cr	47 Cr	46 Cr	49 Cr
Depreciation	51 Cr	58 Cr	65 Cr	72 Cr	81 Cr	89 Cr	95 Cr	99 Cr	101 Cr	113 Cr
Profit before tax	1 Cr	3 Cr	39 Cr	15 Cr	12 Cr	10 Cr	16 Cr	22 Cr	24 Cr	24 Cr
Tax %	0.0%	0.0%	0.0%	0.0%	7.3%	3.8%	2.2%	1.8%	1.1%	1.9%
Net profit	1 Cr	3 Cr	39 Cr	15 Cr	11 Cr	10 Cr	16 Cr	22 Cr	23 Cr	24 Cr
EPS (₹)	₹0.21	₹0.43	₹5.55	₹2.15	₹1.58	₹1.40	₹2.24	₹3.03	₹3.25	₹3.35

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	178 Cr	257 Cr	545 Cr	849 Cr	1,208 Cr	1,493 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	125 Cr	189 Cr	390 Cr	603 Cr	805 Cr	944 Cr	Sign in free for the trailing twelve months
EBITDA	53 Cr	68 Cr	156 Cr	245 Cr	402 Cr	550 Cr	Sign in free for the trailing twelve months
OPM %	29.8%	26.6%	28.5%	28.9%	33.3%	36.8%	Sign in free for the trailing twelve months
Other income	38 Cr	22 Cr	21 Cr	26 Cr	53 Cr	93 Cr	Sign in free for the trailing twelve months
Interest	47 Cr	49 Cr	73 Cr	93 Cr	136 Cr	186 Cr	Sign in free for the trailing twelve months
Depreciation	87 Cr	98 Cr	150 Cr	196 Cr	276 Cr	384 Cr	Sign in free for the trailing twelve months
Profit before tax	-43 Cr	-57 Cr	-47 Cr	-18 Cr	69 Cr	72 Cr	Sign in free for the trailing twelve months
Tax %	0.0%	0.0%	0.0%	0.0%	1.3%	1.9%	Sign in free for the trailing twelve months
Net profit	-43 Cr	-57 Cr	-47 Cr	-18 Cr	68 Cr	71 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹-8.38	₹-10.68	₹-8.11	₹-2.79	₹9.75	₹9.93	Sign in free for the trailing twelve months
Dividend payout %	—	—	—	—	0.0%	0.0%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	30 Cr	30 Cr	30 Cr	19 Cr	71 Cr	72 Cr
Reserves	121 Cr	65 Cr	139 Cr	232 Cr	388 Cr	481 Cr
Borrowings	3 Cr	12 Cr	11 Cr	32 Cr	23 Cr	51 Cr
Other liabilities	355 Cr	453 Cr	750 Cr	1,114 Cr	2,024 Cr	2,307 Cr
Total liabilities	509 Cr	560 Cr	931 Cr	1,398 Cr	2,507 Cr	2,910 Cr
Fixed assets (net)	96 Cr	121 Cr	247 Cr	914 Cr	508 Cr	634 Cr
CWIP	0.13 Cr	9 Cr	0.45 Cr	8 Cr	16 Cr	12 Cr
Investments	42 Cr	16 Cr	—	0 Cr	0 Cr	0 Cr
Inventories	0.20 Cr	0.54 Cr	0.40 Cr	0.16 Cr	0.09 Cr	0.72 Cr
Trade receivables	15 Cr	31 Cr	48 Cr	116 Cr	177 Cr	211 Cr
Cash & bank	10 Cr	5 Cr	6 Cr	4 Cr	40 Cr	56 Cr
Other assets	345 Cr	377 Cr	629 Cr	355 Cr	1,765 Cr	1,995 Cr
Total assets	509 Cr	560 Cr	931 Cr	1,398 Cr	2,507 Cr	2,910 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	57 Cr	83 Cr	195 Cr	228 Cr	363 Cr	616 Cr
Cash from investing	-38 Cr	-7 Cr	-170 Cr	-162 Cr	-203 Cr	-220 Cr
Cash from financing	-17 Cr	-80 Cr	-28 Cr	-65 Cr	-124 Cr	-380 Cr
Net cash flow	3 Cr	-4 Cr	-3 Cr	2 Cr	36 Cr	16 Cr
Free cash flow (OCF − Capex)	19 Cr	19 Cr	49 Cr	83 Cr	163 Cr	406 Cr

Ratios

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	2.5%	-7.9%	14.5%	26.6%	42.4%	42.8%
ROE %	-28.3%	-60.3%	-27.5%	-7.0%	14.8%	12.8%
Debtor days	31	43	32	50	53	51
Inventory days	8	5	2	0	0	0
Days payable	1049	392	204	280	61	75
Cash conversion cycle	-1010	-344	-171	-229	-7	-23
OCF / EBITDA %	108.2%	121.0%	125.5%	93.1%	90.1%	112.1%
OCF / EBITDA % (3 years)	—	—	121.1%	107.9%	97.9%	100.8%
Debt / equity	0.02	0.13	0.06	0.13	0.05	0.09
Current ratio	1.38	0.57	0.49	0.65	0.71	0.68
Net debt / EBITDA	-0.13	0.10	0.03	0.11	-0.04	-0.01