Awfis Q1 FY27 results: Revenue up 27% to ₹425 crore

Key takeaway from the quarter

Awfis Space Solutions reported a strong first quarter of FY27, with growth across revenue and profitability metrics alongside continued network expansion. Consolidated revenue from operations rose 27% year-on-year (YoY) to ₹425 crore for Q1 FY27. The quarter ended June 30, 2026, and the company said the results were unaudited and consolidated. Management linked the performance to sustained demand for flexible workspaces, including from enterprises and Global Capability Centres (GCCs). The update is also described as the company’s first post-IPO quarterly result.

Revenue growth and sequential trend

Awfis said revenue from operations increased to ₹425 crore in Q1 FY27 from ₹335 crore in Q1 FY26, implying 27% YoY growth. On a sequential basis, revenue was also up 4% from ₹410 crore in Q4 FY26. The company positioned this as evidence of steady demand for its offerings even as it continues to add capacity. The numbers indicate that growth was not limited to a single business line, with both co-working and project-related revenue rising.

EBITDA rises, margin improves

Reported EBITDA increased 28% YoY to ₹162 crore in Q1 FY27, compared with ₹127 crore in the year-ago quarter. EBITDA margin improved to 38.2% from 37.8% a year earlier, according to the disclosed comparison. In another metric set cited alongside the results, “operating EBITDA” is also referenced at ₹160 crore, with the margin shown at 38.20% versus 37.82% in the prior-year period. The company highlighted the margin profile as reflecting operational efficiency.

Profitability: PAT and PBT both at ₹24 crore

Profit after tax (PAT) surged 140% YoY to ₹24 crore in Q1 FY27, compared with ₹10 crore in Q1 FY26. Profit before tax (PBT) also rose 135% to ₹24 crore, versus ₹10 crore a year earlier. The PAT margin is stated at 5.6% for the quarter. Awfis also separately reported PBT for the quarter at ₹24 crore as part of its results disclosure.

Segment performance: co-working and Transform

Co-working space on rent and allied services revenue rose 27% to ₹352 crore in Q1 FY27 from ₹276 crore in Q1 FY26. Revenue from construction and fit-out projects under the Transform business increased 25% to ₹73 crore. The company also stated that Transform revenue was ₹73 crore in Q1 FY27, and that third-party revenue accounted for 92% of that business. These figures together explain how the overall top line expanded while maintaining margins.

Network expansion and operating footprint

During Q1 FY27, Awfis added seven new centres, taking the total network to 251 centres. Seating capacity reached approximately 170,000 seats across 18 cities, reflecting the scale of operations cited in the update. The company said it serves a diversified client base of nearly 3,600 clients. Occupancy at centres older than 12 months stood at 83%, while overall portfolio occupancy was 76%, providing additional context on utilisation.

Balance sheet and returns metrics highlighted

Awfis reiterated its capital-light business model and pointed to balance sheet strength. It reported a net debt-to-equity ratio of -0.08. It also cited an industry-leading return on capital employed (ROCE) of 55%. These metrics were presented alongside the quarterly operating update, framing the growth within a leverage-light structure.

Management commentary and investor interaction

Chairman and Managing Director Amit Ramani said revenue grew 27% YoY to ₹425 crore, while reported EBITDA increased 28% YoY to ₹162 crore with EBITDA margins of 38.2%. The company also indicated that an earnings conference call was organised by Nirmal Bang for interaction between management and market participants. Executives listed to participate include Amit Ramani (Chairman and Managing Director), Sumit Lakhani (CEO), and Sumit Rochlani (CFO). Dial-in details provided for the call include +91 22 6280 1304 and +91 22 7115 8205.

Summary table of disclosed metrics

What this quarter signals

The disclosed numbers show Awfis growing revenue while maintaining a high EBITDA margin in the quarter. Segment data indicates both co-working and Transform contributed to growth, with co-working remaining the larger contributor at ₹352 crore. Expansion continued through the addition of seven centres, with occupancy metrics providing a snapshot of utilisation across mature and overall portfolio. The company’s emphasis on a net debt-to-equity ratio of -0.08 and ROCE of 55% suggests it wants investors to track growth alongside balance-sheet positioning.

Closing note

Awfis said the Board of Directors approved the results at a meeting held on August 13, 2026. The company has also scheduled an earnings conference call through Nirmal Bang, with senior management participation listed. Investors will likely focus next on updates around occupancy, ramp-up of the new centres, and how co-working and Transform revenue trends evolve in subsequent quarters.