Awfis Space Solutions Limited · NSE:AWFIS
Awfis Space Solutions — Q2 FY27 Earnings Presentation
40 slides from Awfis Space Solutions's earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter
Date: November 03, 2026 To, To, National Stock Exchange of India Limited (“NSE”) BSE Limited (“BSE”) Listing Department Listing Department Exchange Plaza, C-1 Block G, Corporate Relationship Department Bandra Kurla Complex Bandra [E], Phiroze Jeejeebhoy Towers, Mumbai – 400051 Dalal Street, Fort, Mu
Slide 2: Investor Presentation Q2 FY27 November 2026
| INVESTOR PRESENTATION | Q2 FY27 | NOVEMBER 2026
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Awfis Space Solutions Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Contents
CONTENTS 01 02 Executive Summary Q2 & H1FY27 Performance Summary 03 04 About Us Industry Snapshot 05 Design Portfolio 3
Slide 5: Executive Summary
We are pleased to report another quarter of steady performance, supported by continued demand from large enterprises & GCCs, alongside our ongoing focus on premiumisation and operational efficiency. Normalised Revenue for Q2 FY27 stood at ₹451 Cr, growing 26% YoY, taking H1 FY27 revenue to ₹888 Cr,
Slide 6: Q2 & H1FY27 Performance Summary
5 Q2 & H1FY27 PERFORMANCE SUMMARY 5
Slide 7: Awfis at a Glance
AWFIS AT A GLANCE PIONEER IN THE INDIAN FLEXIBLE WORKSPACE INDUSTRY ROBUST FINANCIALS Capital Efficient Model Rs. 451 Cr Rs. 376 Cr/Rs. 75 Cr 10.8% (Normalised) Revenue Coworking and Transform Cash EBITDA Margin from operations Q2 FY27 Revenue for Q2 FY27 Q2 FY27 MARKET LEADER 3,700+ 270/188K 9.4 Mn
Slide 8: Q2 & H1FY27: Normalised Financial Highlights
Q2 & H1FY27: NORMALISED FINANCIAL HIGHLIGHTS REVENUE SCALING FAST, PROFITS SCALING FASTER Q2 FY27 PEFORMANCE HIGHLIGHTS Revenue from Revenue from Revenue from construction Cash EBITDA / Cash Operations Co-working and fit-out projects EBITDA Margin Rs. 451 Cr Rs. 376 Cr Rs. 75 Cr Rs. 49 Cr/10.8% ▲ +2
Slide 9: Sep'26: Capital Efficiency Ratios
SEP’26: CAPITAL EFFICIENCY RATIOS STRONG FINANCIALS DRIVING SUSTAINABLE GROWTH AND LONG-TERM VALUE SUPERIOR CAPITAL EFFICIENCY Normalized Cash Flow From Normalized cash flow from Fixed assets Operations^ operations^/Cash EBITDA turnover ratio* Rs. 100 Cr 1.08x 1.5x CONSERVATIVE LEVERAGE, STRONG CRED
Slide 10: Five Engines of Growth
FIVE ENGINES OF GROWTH CLARITY OF STRATEGY. DEPTH OF EXECUTION. DEMAND GCCs are our core enterprise demand engine, serving 105+ GCC clients through GCC: Structural Demand Engine one integrated platform, from India entry to multi-city scale. PORTFOLIO A growing portfolio of Gold & Elite centres in Gr
Slide 11: Since Our IPO: Growth on Every Metric
SINCE OUR IPO: GROWTH ON EVERY METRIC SELF-FUNDED GROWTH. DISCIPLINED CAPITAL ALLOCATION. SUSTAINED RETURNS. ₹128 Cr ₹464+ Cr -0.12x 1.5x Raised at IPO, MAY 2024 Capex Deployed Net Debt / Equity Revenue / Gross Fixed Assets Only capital infusion since listing Q1 FY25 till Q2 FY27 Net cash maintained
Slide 12: Network Leadership
NETWORK LEADERSHIP INDIA’S LARGEST NETWORK OF FLEXIBLE WORKSPACES Awfis presence in Nine Tier 1 and Nine Tier 2 cities across all regions, lets us serve the growing and diverse needs of our clients Zone-Wise Breakup North South 12% 30 Centres 40% 104 Centres 11% 19,595 seats 46% 80,522 seats East We
Slide 13: Supply Highlights
SUPPLY HIGHLIGHTS SCALE, QUALITY, AND FORWARD MOMENTUM NETWORK LEADERSHIP STABLE EXPANSION SIGNED SUPPLY1 SUSTAINED GROWTH MOMENTUM 270 188K 9.4Mn ~7k 6 Centres Seats Sq. Ft Gross seats New centre added in Q2 launches in Q2 TOTAL SUPPLY2 OVER THE FIRST HALF 254 174K 8.7Mn ~12k 13 Gross seats New cen
Slide 14: Moving Towards Premiumisation
MOVING TOWARDS PREMIUMISATION awfis PORTFOLIO OF 39 PREMIUM CENTRES WITH 29 GOLD & 10 ELITE CENTRES SEATS CENTRES +12,183 +13 Enterprises pay for premium ▲ 58% YoY ▲ 50% YoY 33,111 39 • Grade A+ locations, elevated design and hospitality-led 10 services are driving strong 13,010 26 20,928 enterprise
Slide 15: Diversified, Enterprise-Led Demand
DIVERSIFIED, ENTERPRISE-LED DEMAND WHO WE SERVE — BY INDUSTRY, GEOGRAPHY, AND TYPE Client Distribution Client Distribution 1% Client Distribution by Industry 9% by Domicile 4% By Company Type 1% 10% 12% 14% Technology India 39% Enterprise/MNCs Professional Services 7% North America Sep’26 25% Sep’26
Slide 16: Total Seats and Blended Occupancy
DIVERSIFIED, ENTERPRISE-LED DEMAND awfis TOTAL SEATS UP 11.5% YoY; BLENDED OCCUPANCY UP 230 BPS YoY TO 76.2% PORTFOLIO LEVEL · OCCUPANCY % Occupancy change QoQ YoY Blended occupancy 73.9% 75.7% 76.2% Blended +50 bps +230 bps >12 mo occupancy 83.7% 83.3% 84.1% >12 mo +80 bps +40 bps Total Net Seat Gr
Slide 17: Long Tenures. High Retention.
DIVERSIFIED, ENTERPRISE-LED DEMAND awfis LONG TENURES. HIGH RETENTION. BUILT FOR EVERY COHORT. Tenure & Lock-in Client Mix Weighted average · Sep'26 Sep'26 Clients with >100 seats Overall (all clients) Share of seats by client Share of clients by size tenure TOTAL TENURE (in months) LOCK-IN TENURE (
Slide 18: Built for GCCs
BUILT FOR GCCs FROM FIRST ENTRY TO FULL MANDATE Awfis GCC Universe: Q2FY27 Update Our GCC Initiatives- H1 FY 27 105+* 24% 9 Unique Rental Revenue Cities Across GCC1 Clients Share India Global Parentage With North American Dominance 6% 15% North America GCC Confluence Sponsorship, Bengaluru GCC Leade
Slide 19: Awfis Transform
AWFIS TRANSFORM A FULL-FLEDGED, SELF-SUSTAINING GROWTH ENGINE ₹75 Cr 93% ₹220 Cr Order Book + Advanced Q2 FY27 D&B Revenue Third-Party Share Pipeline WHY THIS IS STRUCTURAL, NOT ONE-OFF Third-party mix has flipped structurally From a largely captive fit-out arm to a majority third-party business, no
Slide 20: Segmental Revenue Break Up
SEGMENTAL REVENUE BREAK UP Co-working space on rent and allied services Construction and fit-out projects INR CR +30% 888 149 682 Co-working & Allied Services grew 31% YoY & 34% in Q2 & H1 128 FY27 respectively, adding Rs. 89 +26% CR in incremental revenue during 451 Q2 and Rs. 186 CR in H1 75 compo
Slide 21: Financial Summary & Cash EBITDA Profile
FINANCIAL SUMMARY & CASH EBITDA PROFILE Particulars (INR Cr) Q2 FY27 Q2 FY26 Y-o-Y (%) H1 FY27 H1 FY26 Y-o-Y (%) Reported Revenue 439 367 864 702 Add: Adjustment of actual rent received on finance lease 13 (10) 25 (20) arrangements1 Normalised Revenue* 451 357 26% 888 682 30% *M S K A & Associates L
Slide 22: Cash EBITDA: Traced to Reported Cash Flow – H1 FY27
CASH EBITDA: TRACED TO THE REPORTED CASH FLOW – H1 FY 27 IND AS 116 ADJUSTMENTS FROM REPORTED EBITDA TO CASH EBITDA (INR Cr, H1 FY27) A B Add: Finance lease Less: Rent paid to Other adjustments Reported EBITDA adjustment landlords Cash EBITDA other Ind AS impacts, non-cash rentals invoiced on financ
Slide 23: Cash EBITDA: Traced to Reported Cash Flow – Q2 FY27
CASH EBITDA: TRACED TO THE REPORTED CASH FLOW – Q2 FY 27 IND AS 116 ADJUSTMENTS FROM REPORTED EBITDA TO CASH EBITDA (INR Cr, Q2 FY27) A B Add: Finance lease Less: Rent paid to Other adjustments Reported EBITDA adjustment landlords Cash EBITDA other Ind AS impacts, non-cash Rentals invoiced on financ
Slide 24: Reported Consolidated Financial Summary
REPORTED CONSOLIDATED FINANCIAL SUMMARY Particulars (INR Cr) Q2 FY27 Q2 FY26 Y-o-Y (%) H1 FY27 H1 FY26 Y-o-Y (%) Total Revenue from operations 439 367 20% 864 702 23% Co-working space on rent and allied services 364 297 22% 715 574 25% Construction and fit-out projects 75 69 8% 149 128 16% Total Exp
Slide 25: Balance Sheet
BALANCE SHEET Assets (Rs. Crores) Sep 26 Mar 26 Liabilities (Rs. Crores) Sep 26 Mar 26 Non Current assets Equity Property, Plant and Equipment 690 634 Equity Share capital 72 72 Capital work-in-progress 8 12 Other Equity 537 481 Other Intangible Asset 4 4 Total Equity 609 552 Intangible assets Under
Slide 26: Cash Flow Statement
CASH FLOW STATEMENT Particulars (Rs. Crores) Sep 26 Sep 25 Net Profit Before Tax 56 27 Adjustments for: Non Cash Items / Other Investment or Financial Items 283 245 Operating profit before working capital changes 339 271 Changes in working capital 41 32 Cash generated from Operations 379 303 Direct
Slide 27: About Us
#5 ‘3 . : is = Eo) ‘ =| . en y o = _ ABOUT US SS sa w 26
Slide 28: The Awfis Platform
THE AWFIS PLATFORM FOUR INTEGRATED BUSINESS LINES. ONE OPERATING PARTNER. Coworking Managed Office Allied Services Flexible Workspaces Customized Workplace End-to-End Services Design & Build An end-to-end, built-to- A suite of B2C and B2B Commercial fit-out suit enterprise offerings to enhance servi
Slide 29: Decade of Transformation and Impact
| Decade of Transformation and Impact awfis @ vers Chrys Capital invested Bynes Inaugurated (Bisque Ltd. & Link awfisgold ‘et Contre Launched “Awfis Peak XV Ist HesrimentTiiat aitecsie Coworking” app invested Awfis Centre Promising Inegetion'e! in Tier I City Brand 2019 ET the: Company. Prestigious
Slide 30: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM OUR SEASONED LEADERSHIP 29
Slide 31: Board of Directors
AND BOARD OF DIRECTORS AMIT RAJESH ANIL RADHIKA SANJAY ABHISHEK RAMANI KHARABANDA PARASHAR JAYKRISHNA SHAH PODDAR Chairman and Non-Executive Independent Independent Independent Independent Managing Director Director Director Director Director Director • 20+ years of • 37 years of • 27 years of • 8 y
Slide 32: Industry Recognition – Q2 FY2027
Industry Recognition – Q2 FY2027 Excellence in Industry India’s 1st Portfolio Top 100 India’s Best Best Co-working Space Achievement – Wide Certified Workplaces for Women workplaces in Innovation Award in Real 2026 – Mid-size Category by Real Estate Coworking Brand Estate: Mr. Amit Great Place to Wo
Slide 33: Industry Snapshot
nt INDUSTRY SNAPSHOT W 32
Slide 34: India Office and Flex Market
INDIA OFFICE AND FLEX MARKET INDIA OFFICE & FLEX MARKET A STRUCTURAL GROWTH STORY, WHERE FLEX LEADS THE NEXT CHAPTER 887.3 MSF 12.6 MSF 54.4 MSF 18.7 MSF Pan India Grade A office stock (top 7 Leasing by flex space operators about 9M CY26 gross leasing – 7% growth New Grade A supply absorptions in Q3
Slide 35: India GCC Landscape
INDIA GCC LANDSCAPE INDIA OFFICE & FLEX MARKET THE WORLD'S LARGEST GCC ECOSYSTEM — AND GROWING 2,117 USD 98.4 Bn 2.36 Mn >40% GCCs in India, FY26E Total GCC Revenue Installed GCC talent Share in Indian (3,728 Units) FY26E in India FY26E CRE leasing GCC & UNIT GROWTH: FY21 vs FY26E GCC REVENUE TRAJEC
Slide 36: Design Portfolio
DESIGN PORTFOLIO 35
Slide 37: Design Portfolio
Design Portfolio 36
Slide 38: Design Portfolio
Design Portfolio 37
Slide 39: Design Portfolio
Design Portfolio 38
Slide 40: Thank You
Company Investor Relations THANK CIN: U74140MH2010PTC204285 YOU CIN: L74999DL2014PLC274236 Ms. Ami Parekh / Mr. Rahul Agarwal cs.corp@awfis.com E: ami.Parekh@sgapl.net / rahul.agarwal@sgapl.net www.awfis.com T: +91 8082466052 / +91 9821438864 www.sgapl.net 39
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