Awfis Coworking Reports 20% Revenue Growth In Q3 FY26 Results

Awfis Space Solutions Limited (Awfis) a leading flexible workspace solutions provider company in India has released its unaudited financial results for the quarter and nine months ended 31st December 2025.

Commenting on the results, Mr. Amit Ramani, Chairman and Managing Director, Awfis Space Solutions Limited, said:

“We are pleased to report a strong operational and financial performance during Q3 FY26, driven by sustained demand across enterprise and GCC clients, disciplined execution, and the continued strength of our capital-efficient expansion strategy.​

​Strong Financial Performance: Revenue for the Q3FY26 grew 20% year-on-year to Rs. 382 crores, supported by robust growth of 32% year-on-year in Co-working & Allied Services segment, with Operating EBITDA rising 30% to Rs. 139 crores. EBITDA margin expanded to 36.5%. This translated into improved profitability, with PBT for the quarter rising to Rs. 22 crores, driven by scale efficiencies, a higher share of mature centres, and operating leverage. This is also reflected in stronger capital efficiency, with annualized ROCE at 66% and ROE at 17%.

​Continued Network Leadership: During the quarter, we added 10 new centres, expanding our network to 257 centres with ~177K seats across 18 cities spanning Tier 1 and Tier 2 markets, and serving a diversified client base of around 3.4K customers.​

Awfis maintains a deep and high-quality Managed Aggregation (MA) pipeline, which remains central to our capital efficient expansion strategy. Around 62% of our signed supply is under the MA model, enabling faster scalability with superior ROCE. The strong pipeline of 8 lakh sq. ft. across prime micro-markets, providing strong growth visibility while preserving balance sheet efficiency.​

​Evolving Demand Dynamics: We continue to see strong traction across client cohorts, supported by a diversified industry mix and rising multi-centre adoption. Multi-centre clients now account for around 46% of the client base, reflecting deeper client relationships and growing pan-India mandates. Occupancy remains healthy, supported by a favourable seat cohort mix, with the 500+ seat cohort representing 36% of the total portfolio, highlighting the maturity, stability, and stickiness of our enterprise client base.​

GCCs - A significant Growth Driver: Our GCC portfolio is constantly growing with 80+ unique GCC client base and a 21% rental revenue share with additional GCCs already signed and going live in the upcoming quarters, supported by our expanding footprint in premium locations and a differentiated Managed Office offering. The increasing share of Gold and Elite centres has further enhanced our ability to serve large enterprises and GCCs with scalable, compliant, and high-quality workspace solutions.​

Looking ahead, industry tailwinds remain favourable, supported by sustained office leasing momentum, increasing enterprise preference for flexible and managed workspace solutions, and continued expansion of GCCs across Tier 1 and Tier 2 markets. Awfis’ scale, operational expertise, capital-efficient MA model, and growing presence in premium locations position us well to capture demand across client cohorts and deliver sustained, profitable growth.​”

Financial Highlights: 

9MFY26 Consolidated Financial Highlights

• 9MFY26 reported strong Operating Revenue of Rs. 1,083 Crs, growth of 25% YoY, supported by robust 38% yoy growth in Coworking and allied services 

• ​Operating EBITDA grew by 39% yoy to Rs. 398 cores, with Operating EBITDA margins expanded by 373 bps to 36.7%, reflecting improved scale efficiencies, a higher share of mature centres, and operating leverage

• 9MFY26 PAT (excluding exceptional Item) stood at Rs. 48 crores ​, reflecting growth of 50% YoY 

Q3FY26 Consolidated Financial Highlights

• Q3FY26 reported strong Operating Revenue of Rs. 382 Crs, growth of 20% YoY​, supported by robust 32% yoy growth in Coworking and allied services 

• ​Operating EBITDA grew by 30% yoy to Rs. 139 cores, with Operating EBITDA margins expanded by 270 bps to 36.5%, reflecting improved scale efficiencies, a higher share of mature centres, and operating leverage 

• Q3FY26 PAT (excluding exceptional Item) stood at Rs. 22 crores ​, growth of 52% YoY

Operational Highlights for 9MFY26:

• As of December 31, 2025, the company maintains a substantial portfolio of 257 centers and 1,77,000 seats across 8.6 million sq. ft. (including spaces under fit-out and with Signed LOIs)

• Added 8,000 seats in Q3 FY26 and 22,000 seats in 9M FY26, contributing to a year-over-year growth of 34,000 seats

• 100% of new supply in Grade A/A- assets, with 7 new additions to our Gold/Elite portfolio, reinforcing our focus on premium, enterprise-grade workspaces

• The company operates 32 premium workspace centers (25 Gold and 7 Elite)