The call has ended.

Key takeaways

Awfis reports strong growth driven by GCC demand and premiumization, with cash EBITDA margins expanding 140 bps YoY.

Guidance and delivery
Management target	Revenue 21.0% FY27

Highlights
Revenue growth	Normalized revenue up 26% YoY to ₹451 Cr.
Margins	Cash EBITDA margin at 10.8%, up 140 bps YoY.
Order book	Transform order book and pipeline at ₹220 Cr.
Demand visibility	Strong visibility from GCCs and large enterprises across top 7 cities.
Management confidence	Extremely confident, emphasizing structural shift towards flex and GCC demand.

Growth

Normalized revenue grew 26% YoY to ₹451 Cr; Cash EBITDA rose 45% to ₹49 Cr.

Outlook

Management guides FY27 revenue over ₹1,800 Cr with 23-25% growth in coworking business.

Risks

High exposure to technology sector (39%) and dependence on managed aggregation (57% of network).

Last quarter's promises, checked

Delivered

Coworking FY27 +23–25% YoY → Q2 +31% (quarterly, not FY) (= BEAT)
Self-funded growth, net-cash positive → H1 capex ₹113 Cr from internal accruals; net-cash positive (= BEAT)

Partly delivered

Gross seat adds 22–25k FY27 → Q1 ~4.6k + Q2 7k (= PARTIAL)
FY27 cash EBITDA ₹190–200 Cr, H2>H1 → Q1 ₹44 Cr, Q2 ₹49 Cr; FY not yet reported (= PARTIAL)
FY27 capex ₹200–210 Cr → H1 ₹113 Cr (= PARTIAL)

Missed

Transform ~20% YoY growth → +8% (= MISS)

Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published 4 Nov 2026, 1:17 PM IST. Open it on ALFA Filings ›