Awfis, a leading coworking space operator in India, announced a 107% jump in net profit for Q4 FY26, reaching ₹23.2 crore on the back of a 23% increase in revenue. The company also expanded its footprint across 18 cities, signaling confidence in sustained demand from enterprise clients and government corporations.
- Q4 FY26 net profit doubles to ₹23.2 Cr, revenue up 23%
- Expanded to 266 centers with 1.84 lakh seats across 18 cities
- Secured ₹75 Cr loan to fund capital expenditures
What happened
Awfis reported a 107% year-over-year increase in net profit for Q4 FY26, reaching ₹23.2 crore from ₹11.2 crore in the same quarter the previous year. Revenue for the quarter increased 23% year-over-year to ₹429.1 crore, boosted by a 35% increase in rent from coworking spaces, although construction and fit-out revenues declined slightly.
The company’s operating EBITDA grew 31% year-over-year to ₹152 crore, driven by sustained demand across enterprise and government sectors. Awfis also secured a term loan agreement worth ₹75 crore from IDFC First Bank, with plans to use the funds for capital expenditure, supporting growth and infrastructure expansion.
Why it matters
Awfis’ financial results underscore the recovery and growth potential in India's coworking market, fueled by long-term contracts and increasing enterprise adoption. With occupancy at 76% and mature occupancy at 84%, the company has established a strong operational foundation, enhanced by a weighted average lease tenure of over three years.
The expansion to 266 centers and 1.84 lakh operational seats highlights Awfis’ robust network scale and reach across Tier I and II cities. Its client base of over 3,500, including 100+ government corporation clients contributing nearly a quarter of rental revenue, reflects a diversified and stable revenue base appealing to investors and stakeholders.
What to watch next
Focus will be on Awfis’ rollout of its premium service tiers, Gold and Elite, as it targets higher-margin segments in large IT parks and new institutional properties. Their traction will be critical in driving revenue growth and differentiating the company in a competitive market.
Investors should also monitor the company’s use of new capital from the loan facility to fund expansion and innovation initiatives. Additionally, signals from the next quarters on GCC client uptake and occupancy trends will provide insights into Awfis’ ability to sustain momentum amid evolving market dynamics.