Awfis Shares Slump 4% During Intraday

Shares of co-working space startup Awfis slipped 4% to INR 621 during the intraday trading session on the BSE today (February 18).

The stock later recouped some of its losses and was trading 2.17 % down at 12:30 PM from its previous close of INR 645.55 apiece on the BSE.

With a fall in its share price, the company’s market capitalisation stood at INR 4,473 Cr with more than 84K shares traded hands till the time of writing.

At the current market price, the stock has given a negative return of over 10% in the past one month. However in the longer run, it has given a positive return of over 50%, considering the last one year. 

The stock has ended in red in four out of the last seven sessions. 

Awfis last week released its financials for the third quarter of the current fiscal year (Q3 FY25). The company reported a consolidated net profit of INR 15.18 Cr in Q3 FY25 as against a loss of INR 6.29 Cr in the year-ago quarter. 

However, its profit declined 61% from INR 38.67 Cr profit in Q2 FY25. While its operating EBITDA jumped 59% YoY to INR 107 Cr, its EBITDA margin jumped to 33.8% from 30.6% in the year-ago quarter.

The company revenue from operations jumped both on a year-on-year (YoY) and  quarter-on-quarter (QoQ) basis. Awfis’ revenue from operations stood at INR 317.72 Cr in Q3 FY25, up 44% YoY and 9% QoQ. Its total expenses for the quarter rose 37% YoY and 10% QoQ to INR 317.18 Cr.

Founded in 2015 by Amit Ramani, Awfis claims to be the largest flexible space operator in India with 181 centres, around 1.1 Lakh seats, and about 5.6 Mn square feet of chargeable area, as of March 2024. The company started operations as a coworking network, and has since expanded into the tech-enabled workspace solutions segment.