Awfis Partners with Nyati Group, Expands Flexible Workspace Solutions
Awfis Space Solutions partners with Nyati Group to add 0.3 million square feet of Grade-A workspace, taking total space to half a million square feet.
Awfis Space SolutionsNyati GroupFlexible Workspace SolutionsReal EstatePuneReal Estate PuneAug 28, 2024
The stock price of Awfis scaled up to 7.52 per cent at Rs 824.60 a piece per share on the BSE in Wednesday's intraday deals. However, the stock price quickly pared most of its gains and was trading 0.68 per cent highest at Rs 772.10 per share as of 10 20 AM on the BSE.
Investor Ashish Kacholia held 3.35 million equity shares or 4.83 per cent stake in Awfis at the end of June 2024 quarter, the shareholding pattern data shows. Ashish Kacholia's stake is currently valued at around Rs 310 crore.
Through this partnership, Awfis will introduce premium flexible workspaces in Nyati Group's prime commercial properties of Nyati Empress in Viman Nagar and Nyati Enthral in Kharadi. This successful collaboration will add 1,67,206 sq. ft built up of highly sought-after offices in these two thriving business districts.
Last week, the company had also announced the launch of two new centres at Mantri Commerce and Vista Pixel in Bengaluru. The centres offer 39,000 sq ft and 27,846 sq ft built-up areas respectively.
In the April to June quarter of financial year 2024-25 (Q1FY25), Awfis had posted a strong operational performance with revenue growing 37 per cent year-on-year (Y-o-Y) at Rs 258 crore. Operating earnings before interest, tax, depreciation and amortisation (Ebitda) grew at 55 per cent Y-o-Y at Rs 79 crore and operating Ebitda margin improved by 360 basis points Y-o-Y to 30.7 per cent from 27.1 per cent in Q1FY24.
The company has a total market capitalisation of Rs 5,356.77 crore. The company debuted on the bourses in late May this year and has zoomed 101.2 per cent from its issue price of Rs 383.
Awfis offers a variety of flexible workspace solutions, from individual desks to customise office spaces, tailored for startups, SMEs, large corporations, and multinational companies.
About Nyati Group
Nyati Group is a real estate developer based in Pune, West India. The company has developed several commercial and residential projects in Pune.
About Awfis Space Solutions
Awfis Space Solutions is a flexible workspace solutions company that offers a variety of workspace solutions to startups, SMEs, large corporations, and multinational companies.
Frequently Asked Questions
What is the partnership between Awfis and Nyati Group?
The partnership is to add 0.3 million square feet of Grade-A workspace, taking the total space to half a million square feet.
Who is the investor Ashish Kacholia?
Ashish Kacholia is an investor who held 3.35 million equity shares or 4.83 per cent stake in Awfis at the end of June 2024 quarter.
What is the revenue growth of Awfis in Q1FY25?
The revenue growth of Awfis in Q1FY25 is 37 per cent year-on-year (Y-o-Y) at Rs 258 crore.
What is the market capitalisation of Awfis?
The market capitalisation of Awfis is Rs 5,356.77 crore.
What type of workspace solutions does Awfis offer?
Awfis offers a variety of flexible workspace solutions, from individual desks to customise office spaces, tailored for startups, SMEs, large corporations, and multinational companies.
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