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The Board of Directors of Awfis Space Solutions Limited, at a meeting held on 13 August 2026, approved the company's unaudited financial results for the quarter ended 30 June 2026, reporting consolidated revenue from operations of INR 424.92 crore, up from INR 334.70 crore in the corresponding quarter last year. Consolidated profit for the period rose to INR 23.96 crore, from INR 9.98 crore a year earlier. The Board also approved the re-appointment of Protiviti India Members Private Limited as internal auditors for FY27 and the appointment of Abhishek Poddar as a Non-Executive Independent Director for a five-year term.
Awfis Space Solutions Limited's Board of Directors, at a meeting held on Thursday, approved the company's unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, along with the limited review reports issued by statutory auditors Walker Chandiok & Co LLP, which carried an unmodified opinion.
On a consolidated basis, the co-working space operator reported revenue from operations of INR 424.92 crore for the quarter, up from INR 334.70 crore in the corresponding quarter of the previous fiscal, marking growth of close to 27 per cent year-on-year. Total income, including other income, stood at INR 448.88 crore, compared with INR 353.04 crore a year earlier. Consolidated profit for the period rose to INR 23.96 crore, from INR 9.98 crore in the same quarter last year, more than doubling year-on-year.
The company's core co-working space and allied services segment generated segment revenue of INR 351.55 crore during the quarter, with segment results of INR 30.46 crore, while the construction and fit-out projects segment, which has been classified as a discontinued operation, contributed INR 73.38 crore in revenue and a segment result of INR 3.23 crore. Total segment assets stood at INR 2,841.33 crore, against total segment liabilities of INR 2,416.42 crore.
On a standalone basis, the company reported revenue from operations of INR 350.16 crore for the quarter, up from INR 274.71 crore a year earlier, with profit for the period at INR 22.58 crore, compared with INR 8.94 crore in the corresponding quarter last year.
The company's Design and Build undertaking, being transferred to wholly-owned subsidiary Awfis Transform Private Limited under a Business Transfer Agreement approved by the Board in December 2025, continues to be classified as a discontinued operation pending completion of the transfer. The Board, at its meeting held in February 2026, had approved an extension of the completion timeline for the transfer to the end of calendar year 2026, citing procedural, administrative, operational and transition-related requirements. The consideration for the transfer, initially set at INR 26.59 crore, is to be finalised based on an updated valuation report as of the revised completion date.
During the quarter, the company allotted 22,695 equity shares pursuant to the exercise of employee stock options under its 2015 stock option plan, and granted 61,830 fresh stock options to eligible employees under its 2024 employee stock option scheme.
Separately, based on the recommendation of the Audit Committee, the Board approved the re-appointment of Protiviti India Members Private Limited as the company's Internal Auditors for the financial year 2026-27.
The Board also approved and recommended to shareholders the appointment of Abhishek Poddar as a Non-Executive Independent Director, for a term of five consecutive years commencing 1 July 2026 and concluding on 30 June 2031, subject to shareholder approval. Poddar, an industrialist and art collector, serves as Managing Director of the M B Group, which has interests in tea manufacturing and trading and the manufacture of industrial explosives. He is also Founder-Trustee of the Museum of Art & Photography (MAP) in Bengaluru. The company confirmed that Poddar is not related to any existing director and is not debarred from holding directorship under any regulatory order.
The Board meeting commenced at 3:30 pm and concluded at 4:31 pm on 13 August 2026, with the results and related disclosures made available on the websites of the BSE, NSE and the company.
Source: BSE
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