Awfis space posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.6x

Co-working space provider Awfis has shared its financial results for the first quarter of FY26, showing good revenue growth and a profit increase of more than three times compared to the same period last year.

The company’s revenue from operations rose by 30% year-on-year, reaching Rs 335 crore in Q1 FY26, up from Rs 258 crore in the same quarter of the previous year, as per its financial statement from the NSE.

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Other income added Rs 18 crore, bringing the company’s total income to Rs 353 crore for the quarter. However, compared to the previous quarter (Q4 FY25), the firm’s revenue dropped by 1.5% from Rs 340 crore.

Revenue from co-working spaces was the biggest contributor, growing by 49% to Rs 276 crore in Q1 FY26 from Rs 185 crore in Q1 FY25. The construction and fit-out projects segment added Rs 58 crore, while other services contributed Rs 1 crore to the total revenue in Q1 FY26.

On the expense side, depreciation was the highest cost at Rs 86 crore. Employee benefits expenses dropped to Rs 30 crore, and subcontracting expenses decreased by 15% year-on-year to Rs 47 crore.

Finance costs were Rs 46 crore, pushing the total expenses to Rs 343 crore in the previous quarter.

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To steady revenue growth and manage costs, Awfis’ profit jumped 3.5 times to Rs 10 crore in Q1 FY26, up from Rs 2.8 crore in Q1 FY25.

Awfis has granted 136,777 Employee Stock Options, valued at Rs 7.6 crore, under its 2024 Employee Stock Option Scheme.

Awfis started in 2015 and offers office spaces for startups, small and medium businesses, and big companies. They also provide services like food, IT help, and building support.