Awfis Space Solutions leases 30,000-square feet office space in Ahmedabad

With this addition, the company is now offering a total of approximately 83,500 square feet built-up area in Ahmedabad, the statement said.

This premium facility, Awfis Gold Centre, is located on the 26th floor in Gift One Tower-GIFT City.

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“Flex space is undeniably the future of the commercial real estate sector, offering flexibility and scalability that modern businesses need,” said Amit Ramani, Chairman and Managing Director of Awfis Space Solutions Ltd.

“Our expansion into GIFT City significantly enhances Awfis’ value proposition by strengthening our presence in Ahmedabad and across the country, positioning us and our clients at the heart of India’s emerging financial and technology hub,” he added.

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According to the company statement, Awfis plans to expand its presence in India by adding 40,000 new seats in FY25, bringing its total to 135,000 seats by the end of the fiscal year.

Business performance

Earlier this year, Awfis Space Solutions made a market debut with a ₹598.93 crore initial public offering.

According to the company’s annual report, Awfis’ revenue from operations increased 55.77% in FY24 to ₹849 crore, from ₹545 crore in the previous year. The company’s revenue also more than doubled between FY22 and FY23.

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In FY24, the company saw its losses more than halve to ₹18 crore, down from ₹47 crore in FY23.

The company’s EBITDA, which measures earnings from its core business before accounting for interest, taxes and depreciation, grew by over 53.9% in FY24 to ₹271 crore.

Awfis Space Solutions is present across 16 cities and 48 micro markets in the country, including all Tier I cities and seven Tier II geographies.