New Delhi: Flexible workspace provider Awfis reported its highest-ever annual operating revenue of ₹1,493 crore for FY26, registering a growth of 24 per cent year-on-year, supported by strong expansion in its coworking and allied services business.
According to the company, revenue from coworking and allied services grew 35 per cent year-on-year during FY26.
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Operating EBITDA increased 37 per cent year-on-year to ₹550 crore, while operating EBITDA margins expanded by 350 basis points to 36.8 per cent. The company attributed the margin expansion to improved scale efficiencies, a higher proportion of mature centres and operating leverage.
Profit after tax (PAT) for FY26 stood at ₹71 crore, reflecting a growth of 66 per cent year-on-year.
The company reported a Return on Capital Employed (ROCE) of 60 per cent during FY26, which it said was the highest among listed industry players.
For the fourth quarter of FY26, Awfis reported operating revenue of ₹410 crore, up 21 per cent year-on-year, supported by 27 per cent growth in coworking and allied services.
Operating EBITDA for Q4 FY26 rose 31 per cent year-on-year to ₹152 crore, while operating EBITDA margins expanded by 290 basis points to 37 per cent.
Quarterly PAT stood at ₹23 crore, registering growth of 107 per cent year-on-year.
On the operational front, the company maintained a net cash position with a Net Debt-to-Equity ratio of negative 0.20x. Revenue-to-Gross Fixed Assets stood at 1.5x, while the Interest Coverage Ratio was reported at 11x on a normalized EBIT basis.
During FY26, Awfis expanded its network to 266 centres across 18 cities, comprising 184,000 seats. The company added nearly 30,000 seats across 41 centres during the year.
According to the company, all new centres were developed within Grade A and Grade A+ office assets located in high-demand micro-markets.
Enterprise and multinational corporations accounted for 64 per cent of the company’s clientele. GCC clients expanded to more than 100, contributing approximately 23 per cent of rental revenue.
The company stated that clients with more than 500 seats represented 37 per cent of its portfolio, while 49 per cent of sub-100 seat clients belonged to the Large Enterprise and MNC category.
Awfis reported mature occupancy of 84 per cent and blended occupancy of 76 per cent across its portfolio.
The weighted average client tenure stood at 37 months, with a lock-in period of 26 months. Multi-centre clients accounted for 48 per cent of the total client base.
The company also expanded its premium portfolio to 35 Elite and Gold Centres during FY26. It launched Gold 2.0 and Awfis 6.0 formats and stated that more than 60 per cent of new supply was signed with institutional landlords.
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Awfis further noted that it became the first coworking brand in India to achieve simultaneous 3x WELL Certification.
