Awfis Space Solutions shares rally 13% after Q2 profit jumps 94% YoY, revenue rises 20%
Awfis Space Solutions Ltd., one of India’s largest flexible workspace providers, reported revenue from operations of Rs 439 crore in Q2FY27, up from Rs 367 crore in the corresponding quarter last year, registering a growth of 20%.
The company’s net profit nearly doubled to Rs 31 crore in the September quarter, compared with Rs 16 crore in Q2FY26, marking a 94% YoY increase.
Awfis Space Solutions key operational highlights
The company reported strong business momentum during the first half of FY27, with more than 25,000 seats sold, reflecting sustained demand for flexible workspaces.
Awfis added six new centres during the September quarter, taking its total network to 254 centres with approximately 1.74 lakh seats across 18 cities. The company now serves a diversified client base of more than 3,700 companies.
Overall portfolio occupancy stood at 76.2%, while centres with more than 12 months of operational history recorded higher occupancy of 84.1%.
The company highlighted several operational developments
Premium workspace expansion: All new supply was added in Grade A and A+ properties, with centres strategically located in high-demand micro-markets.Enterprise-led demand: Its partial Managed Office (MO) model had around 50% enterprise pre-commitment, complemented by coworking demand, supporting faster occupancy and revenue visibility.
Asset-light expansion: Around 57% of its centres operate under the Managed Aggregation (MA) model, where landlords fund fit-out capital expenditure.
Higher pricing: Incremental seats are being signed at approximately 35% higher pricing than flagship products, indicating demand for premium workspace offerings.
GCC mandate: The company secured a mandate for more than 1,000 full-time employees (FTEs) from a Fortune 500 company for a global capability centre (GCC) in Chennai, with Phase 1 scheduled to commence in Q4FY27.
Awfis also maintained a strong balance sheet, reporting a net debt-to-equity ratio of -0.1x and a gross debt ratio of 0.1x.
Awfis Space Solutions share price performance
Following the Q2 results announcement, Awfis Space Solutions shares rallied 13.15% to Rs 272.90 during Wednesday’s trading session. The stock currently commands a market capitalisation of approximately Rs 1,839 crore. Its 52-week high stands at Rs 639.40.
On the technical front, Trendlyne data shows that the stock is trading above six of its eight key simple moving averages (SMAs), while staying below its 150-day and 200-day SMAs.
FIIs, mutual funds trim stake in September quarter
Shareholding data shows that both foreign institutional investors (FIIs) and mutual funds reduced their holdings in Awfis Space Solutions during the September 2026 quarter.
FII ownership declined to 25.37% in September 2026 from 26.92% in the June 2026 quarter. Similarly, mutual fund holdings fell to 32.82% from 35.40% during the same period.
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