Awfis expects 20 pc revenue from newly launched product Awfis Enterprise Solutions
The four-year-old firm has introduced a new product ‘Awfis Enterprise Solution (AES)’ - a fully integrated workplace solution mechanism for its clients.
New Delhi-based co-working space provider Awfis, which clocked a nearly three-fold jump in revenue during the last fiscal at Rs 158 crore, has now expanded its product portfolio.
The company has announced the launch of a new product ‘Awfis Enterprise Solution (AES)’ - a fully integrated workplace solution mechanism for its clients.
The whole gamut of services under AES include workspace design and build, project management, IT services, productivity/efficiency management, workspace management, café management, concierge services, and especially curated experiences.
Speaking about the development, the company said,
“The genesis of this product came about after seeing a lot of demand from internal customers who wanted to continue their partnership with us while setting up their larger independent office setups. This product primarily targets SMEs, mid-sized corporates for their head offices, and multinationals for larger regional offices.”
Going forward, the company foresees 20 percent of its total revenue coming from this new product.
The four-year-old firm leverages on the expertise of its existing partnerships with other trusted vendors to build high performance workspaces for its clients. Blazeclan, a clan of inspired change makers delivering business excellence in the digital ecosystem, has become the first client of Awfis to utilise this new service. Several corporates have also collaborated with Awfis to set up their headquarters, satellite offices, R&D centres, and back offices under this business model.
Deepak Kagliwal, Director & Global Head Sales & Marketing, Blazeclan shares his experience,
“At Blazeclan, we are growing at a rapid pace and we wanted a partner who can augment this growth without us getting into the building and managing our workplace. The Awfis team has done a great job of customising the workplace as per our needs.”
Awfis shared in an official statement that AES allows easy access and connectivity to a vast community of over 19,000 professionals and over 1,500 companies spread across its 63 co-working centres in 10 cities.
The company further added that AES is a hassle-free way for an enterprise to outsource the designing, building and managing of their ‘own’ office space thus allowing them to solely focus on running their business.
Awfis, which was founded in April 2015 by Amit Ramani, has become profitable at the entity level from November last year and is targeting to launch a public issue in 2022. The company has so far raised a total capital of $51 million to grow its business. The last funding round was in July 2018 when it received $20 million from a few investors, including Sequoia India.
Awfis hopes to double its capacity to 60,000 seats by March 2020.