Awfis reports 59% YoY decline in Q2 net profit, revenue rises to Rs 366.8 Cr
The company's revenue from operations rose 25.5% to Rs 366.8 crore, compared with Rs 292.3 crore in the same period last year.
Coworking and flexible workspace provider Space Solutions reported a 59% year-on-year decline in net profit for the second quarter of FY26, despite a rise in revenue. The company posted a consolidated net profit of Rs 15.9 crore, down from Rs 38.6 crore in Q2 FY25.
The revenue from operations rose 25.5% to Rs 366.8 crore, compared with Rs 292.3 crore in the same period last year. Including other income of Rs 26.1 crore, total income for the quarter reached Rs 392.9 crore, marking a 31% increase from the prior year.
Breaking down revenue by segment, the core coworking business contributed Rs 297.4 crore, up 36% from Rs 218.3 crore in Q2 FY25, while the construction and fit-out projects segment generated Rs 69.4 crore, slightly higher than Rs 68.1 crore a year ago.
Awfis operates across 18 cities with over 200 centres, providing flexible workspace solutions to more than 3,000 clients across industries, including coworking, enterprise solutions, and design & build projects.
Total expenses for the quarter rose to Rs 376.6 crore from Rs 287.2 crore, driven by higher operating and finance costs. Profit before exceptional items and tax stood at Rs 16.3 crore, compared with Rs 14.6 crore in Q2 FY25.
For H1 FY26, revenue from operations reached Rs 701.5 crore (H1 FY25: Rs 550.1 crore), and total income was Rs 746 crore. Expenses were Rs 719.3 crore, with profit before exceptional items at Rs 26.7 crore. The gain of Rs 24 crore raised profit before tax to Rs 50.7 crore, resulting in a net profit of Rs 25.9 crore and basic EPS of Rs 3.64.
On the balance sheet, total assets as of 30 September 2025 were Rs 2,695 crore, with equity of Rs 4,98.7 crore. Non-current liabilities were Rs 1,337.6 crore, including lease liabilities of Rs 1,073.7 crore, while current liabilities stood at Rs 858.5 crore.
Edited by Jyoti Narayan