Awfis Space Solutions Limited · NSE:AWFIS
Awfis Space Solutions — Q3 & 9M FY25 Earnings Presentation
37 slides from Awfis Space Solutions's earnings presentation, Feb 11, 2025
Slide 1: Exchange filing cover letter for investor presentation
Date: February 11, 2024 To, To, National Stock Exchange of India Limited BSE Limited (“BSE”) (“NSE”) Listing Department Listing Department Corporate Relationship Department Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, Complex Bandra [E], Mumbai – 400051 Dalal Street, Fort, Mu
Slide 2: Investor Presentation Q3 & 9M FY25 February 2025
1 INVESTOR PRESENTATION | Q3 & 9M FY25 | FEBRUARY 2025
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: Commenting on the results, Chairman and Managing Director
Commenting on the results, Mr. Amit Ramani, Chairman and Managing Director, Awfis Space Solutions Limited, said: “I am pleased to report that we continue to deliver strong performance, with a 44% y-o-y revenue growth, reaching Rs. 318 crores for the quarter. Operational EBITDA increased by 59% durin
Slide 5: Agenda
Q3 & 9M FY25 01 Performance 05 Growth Strategy 02 New Business Update 06 Historical Financials 03 About Us 4 04 Investment Thesis ▪ Growing Flex Sector ▪ Network Leadership ▪ Innovative Supply Model ▪ Diverse Demand Strategy
Slide 6: Q3 & 9M FY25 Performance Summary
5 Q3 & 9M FY25 PERFORMANCE SUMMARY
Slide 7: Awfis: Pioneer in Indian Flexible Workspace Industry
AWFIS : PIONEER IN INDIAN FLEXIBLE WORKSPACE INDUSTRY MARKET LEADER 18 Cities 193 / 121K+ 58/100+ With the Largest Network Including 9 Operational Micro-Markets Tier 2 cities Centres / Seats1 /Localities in India ASSET LIGHT SUPPLY 67% 73% / 84% ~33/24 with Strong Demand Strategy months Managed Aggr
Slide 8: Awfis crosses 200 operational centres
Awfis successfully crosses 200 operational centres The fastest-growing flex space network redefining how India Inc. works
Slide 9: Network Leadership
NETWORK LEADERSHIP INDIA’s LARGEST NETWORK OF FLEXIBLE WORKSPACES Awfis's presence in Nine Tier 1 and Nine Tier 2 cities facilitates in fulfilling the growing and diverse needs of our clients 18 58 214 Cities Micro-markets Centres 142K+ 7.2Mn sq. ft. Seats Chargeable Area TIER 1 TIER 2 90% 192 cente
Slide 10: New City Expansion
NEW CITY EXPANSION LUCKNOW Launched a new centre of ~48K sq. ft. Fun Republic Mall, Lucknow
Slide 11: Supply Highlights – December 2024
SUPPLY HIGHLIGHTS – DECEMBER 2024 EXPANDING NETWORK AND A ROBUST PIPELINE • 55 new centers and 41,786 new 1,60,665 Seats seats were launched since Dec’23, 1,42,697 incl. signed LOI2 expanding our presence to 9 Tier 2 cities and 6 new micro-markets 20,965 • Achieved total supply of 214 centers, 142K+
Slide 12: 9MFY25 Supply Walkthrough
9MFY25 SUPPLY WALKTHROUGH 160,665 17,968 • On track to achieve 135K operational 142,697 seats by Mar'25: 20,965 121,732 o Addition of 26,702 seats and 33 centers since Mar’24; accounting 26,702 for 67% of target seat addition for 95,030 the year o 11,554 seats and 13 centers added since Sept’24 o Ro
Slide 13: Continued Momentum on Asset Light, Low Risk MA Model
CONTINUED MOMENTUM ON ASSET LIGHT, LOW RISK MA MODEL 1,42,697 1,05,258 37% Growth 95,747 in MA seats (67%) 79 69,918 62 (37%) 26% (37%) (66%) Growth 169 in MA 214 107 centres (63%) 135 (63%) 35,340 46,950 (33%) (34%) Dec‘23 Dec‘24 Dec’23 Dec’24 SL MA Total Seats Total Centres ▪ 67% total seats and 6
Slide 14: Strong Demand Metrics
STRONG DEMAND METRICS 3K+ 39% ~40K 73% 33 Active Clients Multi Center Clients New seats signed* Blended Occupancy Weighted Average Total (9M FY25) Tenure (months) Rising occupancy with maturing vintage centres Increasing total and lock in tenures for large seat cohorts OCCUPANCY TOTAL TENURE LOCK IN
Slide 15: Diverse Demand Strategy
DIVERSE DEMAND STRATEGY 4% Catering to all seat cohorts… … and tenure buckets 5% 16% >=24 months 21% 100+ Seats 12-23 months Dec’24 51-100 Seats Dec’24 58% 6-11 months 1-50 Seats 26% <=5 months 70% 28% Creating a customizable solution that serves businesses of all types across industries Diversified
Slide 16: Segmental Revenue Break Up
SEGMENTAL REVENUE BREAK UP Q3FY24 Q3FY25 In Rs. Crs. +43% 647 3% 0.3% 23% 25% 451 Co-working space on rent and allied +52% services 243 72% 77% 160 Q3FY24 Q3FY25 9MFY24 9MFY25 9MFY24 9MFY25 +41% 3% 1% 208 24% 24% 147 +35% Construction and 73 73% 75% fit-out projects 54 Co-working space on rent and a
Slide 17: Q3 & 9M FY25: Reported Financial Highlights
Q3 & 9M FY25 : REPORTED FINANCIAL HIGHLIGHTS Q3FY25 vs Q3FY24 (YoY) Revenue from Operating EBITDA / PAT/ PAT Margin PAT/ PAT Margin ROCE^# Operations EBITDA margin (excl. Exceptional Items) (incl. Exceptional Items) Rs. 318 Crs Rs. 107 Crs / 33.8% Rs. 14 Crs / 4.5% Rs. 15 Crs / 4.8% 76% vs 63% in vs
Slide 18: 9MFY25 Financial Summary
9MFY25 FINANCIAL SUMMARY (Consolidated P&L) ▪ 9MFY25 reported strong Operating 9MFY25 9MFY24 Revenue of Rs. 868 Crs, growth of 41% Reported Ind-AS 116 Ind-AS 116 Others IND AS IGAAP Reported Ind-AS 116 Ind-AS 116 Others IND IGAAP YoY Profit and Loss (in Rs. Crs) Ind-AS Impact Adj. adj.+ Equivalent I
Slide 19: Q3FY25 Financial Summary
Q3FY25 FINANCIAL SUMMARY (Consolidated P&L) Q3FY25 Q3FY24 ▪ Q3FY25 reported strong Operating Reported Ind-AS 116 Ind-AS 116 Others IND AS IGAAP Reported Ind-AS 116 Ind-AS 116 Others IND IGAAP Revenue of Rs.318 Crs, growth of 44% Profit and Loss (in Rs. Crs) Ind-AS Impact Adj. adj.+ Equivalent Ind-AS
Slide 20: About Us
19 ABOUT US
Slide 21: The Awfis Story
The Awfis Story Awfis is India’s largest and fastest growing end-to-end Workspace Solutions Platform serving shared communities and delivering exceptional experiences. Conceived to address a critical gap – the need for accessible, flexible, high-quality workspaces at a fair price – Awfis is at the f
Slide 22: Awfis: Mapping Indian Flex Opportunity
AWFIS: MAPPING INDIAN FLEX OPPORTUNITY GROWING DEMAND SUPPLY STRATEGY A need for offices with better infrastructure and 74%* of workspace supply fragmented across amenities at an affordable rate non-institutional landlords The Challenge: The Challenge: Hassle of tenants to deal Mismatch between with
Slide 23: Our Journey So Far
OUR JOURNEY SO FAR Crossed Crossed 100k 130k Total Seats Total Seats 160 205 Centers Centers 25th 100ᵗʰ Center each 5 Mn 6.6 Mn Center in Mumbai & sq. ft. Area Total sq. ft. Area Total launched Bangalore Chargeable Area Chargeable Area 1st Awfis Launched first centre in Guwahati Center in Tier 2 Cit
Slide 24: Investment Thesis
INVESTMENT THESIS 23
Slide 25: Core Drivers of Awfis Excellence
CORE DRIVERS OF AWFIS EXCELLENCE GROWING FLEX SECTOR INNOVATIVE SUPPLY MODEL India has emerged as one of the Industry leader in capital efficient fastest growing markets for flexible “Managed Aggregation” model workspaces globally NETWORK LEADERSHIP STRONG DEMAND STRATEGY A leading flexible workspac
Slide 26: Growing Flex Sector
GROWING FLEX SECTOR INDIA AMONGST THE FASTEST GROWING MARKETS # GROWTH OF INDIAN OFFICE STOCK # WITH INDIA FLEX SPACE GROWING FASTER TIER 1 TIER 2 Mn Sqft. Tier 1 CAGR~6.5% 8% 12% 16% Penetration CAGR: 26-27% 998 CAGR: 17% Mn Sqft. 8.5-9 96.2 828 643 61.7 5.7 31.3 1.7 2019 2023 2026E 2019 2023 2026E
Slide 27: Industry Recognition
INDUSTRY RECOGNITION Best Coworking Space Of Coworking Operator Of The Flex Spaces Top 100 Great People Managers Great Place To Work FY ’24 The Year Year Best Chain (2023) – Mr. Amit Ramani (2023-2024) South Asia Awards 2023 Best Managed Office Coworking Brand Of The Year Managed Spaces Co-working M
Slide 28: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM OUR SEASONED LEADERSHIP 01 AMIT RAMANI SUMIT LAKHANI RAVI DUGAR MANU DHIR DEEPAYAN SEN AMIT KUMAR Chairman and Deputy Chief Chief Financial Chief Operating Head - Real Estate CS & Compliance Managing Director Executive Officer Officer Officer and Leasing Officer • ~20 yea
Slide 29: Board of Directors
AND BOARD OF DIRECTORS 01 RAJESH ARJUN BHARTIA ANIL PARASHAR RADHIKA SANJAY SHAH KHARABANDA Non-Executive Independent JAYKRISHNA Independent Non-Executive Director Director Independent Director Director Director • 37 years of • 7 years of • 27 years of • 8 yrs. of experience • Over 18 years of exper
Slide 30: Growth Strategy
GROWTH STRATEGY
Slide 31: Growth Strategy
GROWTH STRATEGY Continue to build an industry Enhance our product and leading capital efficient model Service offerings Grow our portfolio of centers under Increase focus on Awfis Transform, the asset light MA model Awfis Care and allied services Continue to develop mid-size Continue catering to a w
Slide 32: Historical Financials
PS r = io HISTORICAL FINANCIALS
Slide 33: Robust Financial Metrics
ROBUST FINANCIAL METRICS In Rs. Crs Revenue from Operations Operating EBITDA Cash EBIT* 97 245 +67% 849 +139% 25 156 36 205 53 68 +68% 7 CAGR 1 545 21 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 105 Net Cash Flow From Operations ROCE# 257 619 12 178 49 419 11 5 228 42.8% 162 196 +59% 181 25.3% FY21 FY22
Slide 34: Design Portfolio
DESIGN PORTFOLIO
Slide 35: Design Portfolio
DESIGN PORTFOLIO
Slide 36: Design Portfolio
DESIGN PORTFOLIO
Slide 37: Thank You
Company Investor Relations THANK CIN: L74999DL2014PLC274236 CIN: U74140MH2010PTC204285 YOU cs.corp@awfis.com Ms. Ami Parekh / Mr. Pratik Shah E: ami.parekh@sgapl.net / p.s.shah@sgapl.net www.awfis.com T: +91 8082466052 / +91 9870030585 www.sgapl.net
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