Awfis Space Solutions Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Co-Working Space on Rent & Allied Services: 82.8% • Construction & Fit-Out Projects: 17.2%
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 44.5%
- Latest quarter profit grew 140.2% YoY, showing strong momentum
- Company has delivered good sales growth of 53.0% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 9.97x)
- Operating margins have improved to 36.8% from 32.3%
CONS
- A large part of profit comes from other income (128.2% of PBT)
- Promoter holding has decreased over last 2 years: -11.6pp
- Interest coverage is weak at 1.4x - earnings barely cover interest
- Equity base is being diluted - shares outstanding up 137.4%
- Total debt has risen sharply - up 117.7% year on year
- Effective tax rate is unusually low at 1.9% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PFOCUS | 310.60 | 209.28 | 24188.72 | 0.00 | -457.78 | -514.43 | 12668.15 | 1196.88 | 2.74 | 23.76 |
| SAGILITY | 45.15 | 21.28 | 21136.20 | 0.33 | 216.81 | 45.94 | 1963.48 | 27.59 | 13.82 | 22.32 |
| HORIZONIND | 55.65 | 244.03 | 16043.35 | 0.00 | -116.27 | — | 2005.46 | — | 3.32 | 80.26 |
| SYNGENE | 382.65 | 69.89 | 15446.40 | 0.33 | -9.00 | -110.38 | 736.00 | -15.84 | 9.48 | 12.34 |
| INDGN | 578.05 | 34.74 | 13929.08 | 0.39 | 116.20 | -0.17 | 1063.10 | 39.73 | 18.92 | 16.39 |
| IGIL | 314.20 | 22.27 | 13578.46 | 1.59 | 165.74 | 30.98 | 370.78 | 23.22 | 77.00 | 60.35 |
| NESCO | 1102.75 | 18.65 | 7769.97 | 0.63 | 99.96 | 3.97 | 211.80 | 9.55 | 19.23 | 48.33 |
| LEAPIND | 144.55 | 102.15 | 6367.95 | 0.00 | 247.33 | — | 2034.13 | — | 9.32 | 51.19 |
| SPARC | 196.10 | 4.02 | 6363.87 | 0.00 | -20.78 | 59.94 | 39.92 | 314.11 | 163.94 | -85.17 |
| SMARTWORKS | 530.60 | 217.74 | 6069.06 | 0.00 | 13.15 | 413.27 | 546.25 | 44.05 | 61.12 | 63.33 |
| JUSTDIAL | 665.10 | 15.59 | 5656.61 | 0.00 | 115.74 | 38.44 | 270.27 | 16.23 | 12.88 | 26.17 |
| AWFIS | 293.40 | 24.75 | 2099.66 | 0.00 | 23.96 | 140.19 | 424.92 | 26.96 | 47.61 | 38.19 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 188 | 208 | 221 | 232 | 258 | 292 | 318 | 340 | 335 | 367 | 382 | 410 | 425 | |
| 137 | 148 | 153 | 165 | 179 | 192 | 210 | 224 | 208 | 235 | 243 | 258 | 424 | |
| Operating Profit | 51 | 60 | 67 | 67 | 79 | 100 | 107 | 116 | 127 | 132 | 139 | 152 | 0 |
| OPM % | 27.09% | 28.83% | 30.56% | 28.89% | 30.67% | 34.26% | 33.76% | 34.12% | 37.80% | 36.06% | 36.47% | 36.99% | 0.11% |
| 5 | 7 | 5 | 9 | 10 | 34 | 15 | 20 | 18 | 26 | 29 | 19 | 24 | |
| Interest | 21 | 23 | 25 | 24 | 28 | 30 | 35 | 43 | 46 | 47 | 47 | 46 | 49 |
| Depreciation | 43 | 48 | 54 | 51 | 58 | 65 | 72 | 81 | 89 | 95 | 99 | 101 | 113 |
| Profit before Tax | -8 | -4 | -6 | 1 | 3 | 39 | 15 | 12 | 10 | 16 | 22 | 24 | 24 |
| Tax % | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.34% | 3.85% | 2.20% | 1.77% | 1.06% | 1.86% |
| Net Profit | 0 | 0 | 0 | 0 | 3 | 39 | 15 | 11 | 10 | 16 | 22 | 23 | 24 |
| -3.20 | -0.69 | -0.96 | 0.21 | 0.43 | 5.55 | 2.15 | 1.58 | 1.40 | 2.24 | 3.03 | 3.25 | 3.35 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 178 | 257 | 545 | 849 | 1,208 | 1,493 | 1,584 | |
| 125 | 189 | 390 | 603 | 805 | 944 | 1,160 | |
| Operating Profit | 53 | 68 | 156 | 245 | 402 | 550 | 424 |
| OPM % | 29.77% | 26.58% | 28.53% | 28.91% | 33.32% | 36.81% | 26.75% |
| 38 | 22 | 21 | 26 | 78 | 93 | 98 | |
| Interest | 47 | 49 | 73 | 93 | 136 | 186 | 189 |
| Depreciation | 87 | 98 | 150 | 196 | 276 | 384 | 409 |
| Profit before Tax | -43 | -57 | -47 | -18 | 69 | 72 | 86 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | 1.29% | 1.93% | 1.69% |
| Net Profit | -43 | -57 | -47 | -18 | 68 | 71 | 85 |
| EPS | -14.15 | -18.97 | -8.11 | -9.09 | 9.56 | 9.90 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 53%
- 3 Years:
- 40%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -49%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 11%
- 3 Years:
- 18%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 30 | 30 | 30 | 19 | 71 | 72 | |
| -23 | -80 | -65 | -131 | 380 | 464 | |
| 248 | 250 | 482 | 687 | 1,318 | 1,363 | |
| Trade Payables | 28 | 45 | 51 | 131 | 201 | 308 |
| 226 | 314 | 432 | 691 | 537 | 703 | |
| Total Liabilities | 509 | 560 | 931 | 1,398 | 2,507 | 2,910 |
| 300 | 340 | 653 | 916 | 1,580 | 1,701 | |
| Capital Work in Progress | 0 | 9 | 0 | 8 | 16 | 12 |
| 42 | 16 | 0 | 0 | 0 | 0 | |
| 0 | 1 | 0 | 0 | 0 | 1 | |
| 0 | 0 | 0 | 75 | 121 | 138 | |
| Cash & Bank | 42 | 6 | 18 | 5 | 82 | 90 |
| 124 | 188 | 259 | 394 | 707 | 968 | |
| Total Assets | 509 | 560 | 931 | 1,398 | 2,507 | 2,910 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 38 | 89 | 195 | 229 | 363 | 616 | |
| Cash from Investing | -38 | -7 | -156 | -163 | -203 | -220 |
| Cash from Financing | -17 | -80 | -28 | -65 | -124 | -380 |
| 3 | -4 | -3 | 2 | 36 | 16 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Awfis Space Solutions Limited has informed the Exchange regarding Intimation of Schedule of Analyst / Institutional Investor meeting under the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 ( SEBI LODR Regulations )
2026-09-01 - Awfis Space Solutions Limited has informed the Exchange about Schedule of Analyst / Institutional Investor meeting.
2026-08-28 - Awfis Space Solutions Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-27 - Awfis Space Solutions Limited has informed the Exchange regarding 'Letter to Shareholders Web link of the Annual Report for the Financial Year (FY) 2025-26'.
2026-08-27 - Awfis Space Solutions Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 21, 2026 along with the Annual Report for the financial year ended March 31, 2026.
2026-08-25 - Awfis Space Solutions Limited has informed the Exchange about Newspaper Advertisement - Information regarding the convening of the 12th Annual General Meeting of the Company, scheduled to be held on September 21, 2026.
2026-08-19 - Awfis Space Solutions Limited has informed the Exchange about Transcript
2026-08-19 - Awfis Space Solutions Limited has informed the Exchange regarding a press release dated August 19, 2026, titled "Awfis, in collaboration with Zinnov, launched the report - The Great Workplace Reset: How India GCCs are Redefining Work, Workforce, and Workspace.".
2026-08-14 - Awfis Space Solutions Limited has informed the Exchange about Newspaper Advertisement under Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
News
Recent coverage and analyst commentary for AWFIS
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