Shares of Awfis Space Solutions surged 9.36% to Rs 394.35 in Tuesday’s trading session after the flexible workspace operator posted a more than two-fold jump in consolidated net profit for the March 2026 quarter, driven by strong demand for managed office spaces and continued expansion across India.
The company reported Q4 FY26 net profit of Rs 23.24 crore, sharply higher from Rs 11.23 crore in the same quarter last year. Revenue momentum remained robust, with consolidated operating revenue rising 21% year-on-year to Rs 410 crore, led by a strong 27% growth in coworking and allied services.
Operational performance also strengthened significantly. Operating EBITDA climbed 31% YoY to Rs 152 crore, while EBITDA margins expanded 290 basis points to 37%, reflecting better scale efficiencies, improved occupancy across mature centres, and operating leverage benefits.
For the full financial year FY26, Awfis delivered its strongest-ever annual performance. Consolidated operating revenue rose 24% YoY to Rs 1,493 crore, supported by a sharp 35% growth in the coworking business. Operating EBITDA increased 37% to Rs 550 crore, with margins improving 350 basis points to 36.8%.
The company’s profit after tax (PAT) for FY26 stood at Rs 71 crore, marking an impressive 66% annual growth. Awfis also reported a sector-leading Return on Capital Employed (ROCE) of 60%, highlighting strong capital efficiency and disciplined execution.
Commenting on the performance, Chairman and Managing Director Amit Ramani said FY26 was a “defining year” for the company, with record revenue, EBITDA, and profitability. He added that demand from Global Capability Centres (GCCs) and Fortune 500 firms continued to accelerate, becoming a structural growth driver for the business.
During FY26, Awfis added 41 new centres and approximately 30,000 operational seats. Its signed network expanded to 266 centres with nearly 184,000 seats spread across 18 cities in Tier 1 and Tier 2 markets, serving around 3,500 clients.
The company also highlighted the growing contribution of GCC clients, with over 100 unique GCC customers now accounting for 23% of rental revenue. Several additional mandates have already been signed and are expected to go live in the coming quarters.
Despite the sharp rally, the stock remains significantly below its 52-week high of Rs 718.95. Awfis currently commands a market capitalization of Rs 2,462 crore, while its 52-week low stands at Rs 229.05.
On the valuation front, the stock trades at a price-to-earnings (P/E) ratio of 43.85 and a price-to-book (P/B) ratio of 5.57.
From a technical perspective, the stock’s RSI (14) stands at 58.1, indicating neutral-to-positive momentum. An RSI below 30 is generally considered oversold, while above 70 signals overbought conditions. The stock is currently trading above 6 out of 8 key simple moving averages (SMAs), though it remains below its longer-term 150-day and 200-day SMAs, suggesting that long-term trend confirmation is still awaited.
