It’s been a year since a bumper listing opened up the growth path for Awfis, and now the company is looking to grab a big slice of the GCC boom currently swepping across the country..

Awfis saw its revenue surge 44% in the third quarter of fiscal 2024-25 to INR 318 Cr, while its EBITDA jumped 59% over the previous year to INR 107 Cr, driving a margin of 33.8%, wider by 320 basis points.

In the second quarter of FY25, the top line shot off 40% over the previous year to INR 292.38 Cr. The company not only stepped out of an INR 4.3 Cr loss it had incurred in Q1, it swung into an INR 38.67 Cr profit in the three months to September 2024.

All this happened in a year when the stock prices of most new-age companies either tumbled or slipped into the red. Awfis held strong, and hit an all-time high of INR 945 earlier this year. The shares closed at INR 671.7 on April 3.

The first coworking space company to go public, Awfis, after a stellar debut on the bourses, has inspired a host of shared work space solution providers like Indiqube, DevX, and Smartworks to explore public floats in 2025.

Amit Ramani, the founder, CEO, chairman and managing director of the Bengaluru-based coworking space solutions provider, is bullish on the growth of global capability centres, or GCCs, set up by multinationals.

GCCs are single-handedly creating huge demand for shared workspace. With favourable government policies, we’ll see more GCCs coming up in the country and, prospects for companies like Awfis will grow in sync,” the chairman added.

Awfis Banks On The GCC Boom

The GCCs, also called global in-house centres (GICs), are the modern-day version of back offices set up for outsourcing business processes to India. Such facilities have evolved into innovation hubs and centres of excellence in India, according to an HSBC report.

Thanks to policy support and a business-friendly environment,

© Inc42