Shares of Indian flexible-workspace operator Awfis Space Solutions Limited climbed as much as 14% Wednesday after quarterly profit nearly doubled and the company reported higher revenue and seat sales.
Groww's market data for India's National Stock Exchange showed an intraday high of ₹275 on Nov. 4, against a previous close of ₹241.20. The rise followed Awfis's Nov. 3 results filing.
Awfis recorded ₹4,387.25 million in revenue from operations for the quarter ended Sept. 30, 2026, a 19.6% increase from ₹3,668.60 million a year earlier. Consolidated profit reached ₹308 million, up 92.8% from ₹159.73 million, according to its unaudited results.
The company provides coworking space, managed offices and office design and build services. It said it sold more than 25,000 seats in the six months through September. At quarter-end, its network had about 174,000 seats across 18 cities, with 254 centers including locations still being fitted out.
Occupancy across Awfis’s operating centers was 76.2%. Centers operating for more than a year were 84.1% occupied.
Awfis said the prices agreed for newly signed premium seats were about 35% higher than for its flagship products. Landlords cover fit-out spending under its Managed Aggregation model, which accounted for 57% of its centers. That arrangement places some upfront costs with property owners.
The company reported ₹49 crore in cash EBITDA for the quarter, up 45% from a year earlier. Its calculation adjusts reported EBITDA for lease accounting and rent paid to landlords.
Awfis's shareholding filings showed foreign institutional ownership at 25.37% on Sept. 30, down from 26.92% on June 30. Mutual funds held 32.82%, compared with 35.40% three months earlier.
Awfis said it aims to generate ₹190 crore to ₹200 crore in cash EBITDA for the financial year ending March 2027.
