Awfis Space Solutions Limited · NSE:AWFIS
Awfis Space Solutions — Q4 FY26 Earnings Presentation
47 slides from Awfis Space Solutions's earnings presentation, May 25, 2026
Slide 1: Exchange filing cover letter for investor presentation
Date: May 25, 2026 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, Mumbai
Slide 2: Investor Presentation Q4 & FY26
awfis | INVESTOR PRESENTATION | Q4 & FY26 | May 2026 1
Slide 3: Safe Harbor
SAFE HARBOR awfis 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 f
Slide 4: Contents
S!:JMB CONTENTS 01 02 Executive Summary Performance Summary 03 04 About Us Industry Snapshot 05 06 Historical Financials Design Portfolio 3
Slide 5: Executive Summary
awfis We are pleased to report another quarter of strong performance, with Q4 FY26 marking the highest-ever quarterly revenue, EBITDA, and profitability in Awfis' history. Revenue stood at Rs. 410 Cr, growing 21% YoY, led by robust growth in the co-working business at 27% YoY. Operating EBITDA grew
Slide 6: Q4 & FY26 Performance Summary
5 Q4 & FY26 PERFORMANCE SUMMARY 5
Slide 7: Q4 & FY26: Reported Financial Highlights
Q4 & FY26 : REPORTED FINANCIAL HIGHLIGHTS awfis REVENUE SCALING FAST, PROFITS SCALING FASTER Q4 FY26 vs Q4 FY25 (YoY) Revenue from Revenue from Operating EBITDA / PAT / PAT Margin Fixed Asset Operations Co-working EBITDA Margin (excl. Exceptional) Turnover Ratio# Rs. 410 Cr Rs. 342 Cr Rs. 152 Cr/37.
Slide 8: Efficient Growth. Clean Balance Sheet. Superior Returns.
Q4 & FY26 : REPORTED FINANCIAL HIGHLIGHTS awfis EFFICIENT GROWTH. CLEAN BALANCE SHEET. SUPERIOR RETURNS. Exceptional Capital Productivity Return on Normalized Cash Flow Normalized cash flow from Capital Employed# From Operations* operations/Normalized EBIDTA 60% Rs. 216 Cr 1.01 - ▲ + 97Cr Conservati
Slide 9: FY26 Highlights
FY26 HIGHLIGHTS awfis A YEAR THAT CHANGED THE BENCHMARK 01 Strong Financial Performance 02 Capital Efficiency & Balance Sheet 03 Network Scale & Depth INR 1,493 Cr +24% YoY 60%+ ROCE 266 Centres · 184K Seats · 18 Cities Revenue from Operations Highest among listed flex workspace peers Pan-India pres
Slide 10: Five Engines of Growth
FIVE ENGINES OF GROWTH awfis CLARITY OF STRATEGY. DEPTH OF EXECUTION. DEMAND - GCC: Structural Demand Engine 01 - PORTFOLIO Premiumization at Scale 02 - SUPPLY Multi-format Supply 03 • AI-led GCC expansion driving larger, premium- • Gold and Elite to scale meaningfully in FY27, • Partial MO - unlock
Slide 11: Awfis at a Glance
awfis AWFIS AT A GLANCE PIONEER IN THE INDIAN FLEXIBLE WORKSPACE INDUSTRY ROBUST FINANCIALS Capital Efficient Model Rs. 410 Cr/Rs. 1,493 Cr 37.0%/36.8% 60% (Reported) Revenue (Reported) Operating RoCE^ from operations EBITDA FY26 Q4FY26/ FY26 Q4FY26/ FY26 MARKET LEADER 18 Cities 266/184K 250/167K Wi
Slide 12: Network Leadership
NETWORK LEADERSHIP awfis 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 41% 102 Centres Ahmedabad 12% 20,107 seats ~/ .._ 4
Slide 13: Supply Highlights
SUPPLY HIGHLIGHTS awfis SCALE, QUALITY, AND FORWARD MOMENTUM I NETWORK LEADERSHIP I STABLE EXPANSION SIGNED SUPPLY1 SUSTAINED GROWTH MOMENTUM 266 184K 8.9Mn 4k+ 6 Seats added New centre Centres Seats Sq. Ft in Q4 launches in Q4 TOTAL SUPPLY2 OVER THE YEAR 250 167K 8.1Mn 30k+ 41 Seats added New centr
Slide 14: Building the Next Phase: Awfis' Supply Playbook
BUILDING THE NEXT PHASE: AWFIS’ SUPPLY PLAYBOOK awfis BETTER ASSETS. BETTER ANCHORS. BETTER REALIZATIONS. FOUR STRATEGIC SUPPLY PILLARS The Revamped The Next Wave of 01 MA Engine 02 Enterprise Supply 4L sq. ft. pre-committed under MA model KEY OUTCOME Partial MO as a prominent growth mode; KEY OUTCO
Slide 15: The Awfis Demand Network Effect
THE AWFIS DEMAND NETWORK EFFECT awfis ACQUIRE, EXPAND, DIVERSIFY, COMPOUND THE CLIENT NETWORK 01 MULTI-CENTRE PENETRATION · QoQ Δ India's Largest Flexible Workspace Client Network Clients in 3+ centres 31% of seats (+300 bps) ↑ Clients in 5+ centres 18% of seats (+300 bps) ↑ 3,500+ 320+ ~3 48% Clien
Slide 16: The Awfis Demand Network Effect: Compounding in Action
THE AWFIS DEMAND NETWORK EFFECT awfis COMPOUNDING IN ACTION / CASE STUDY B: COWORKING TO MO FLYWHEEL I / CASE STUDY A: FROM MO PARTNER TO D&B SERVICE PROVIDER Fortune 500 IT / ITES Firm – Butterfly Effect Across MO and D&B I Leading Auto Components Firm – Expansion within same Micromarkets • FY23 :
Slide 17: Diversified, Enterprise-Led Demand
awfis 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 2% --- Technology Professional Services 11% 10% Mar’26 39% ■ India ■ North America 12% ■ Enterprise/MN
Slide 18: Diversified, Enterprise-Led Demand: Long Tenures, High Retention
awfis DIVERSIFIED, ENTERPRISE-LED DEMAND LONG TENURES. HIGH RETENTION. BUILT FOR EVERY COHORT. Healthy Occupancy Numbers Built for Every Stage of Scale -- 13% > 12 months Vintage Centres Overall 84% 76% •• 500+ Seats 201-500 Seats 10% Mar’26 37% Mar’26 •• 101-200 Seats 51-100 Seats 26-50 Seats 14% 1
Slide 19: The GCC Opportunity
THE GCC OPPORTUNITY awfis LONG-TERM DEMAND TAILWIND, BUILT FOR AWFIS I India’s GCC Growth Story I Awfis’ Structural Right to Win GCC Demand I ~2,500+ >>> # of GCCs ~1,600 ~2,100 ,. I GCCs Expected by I Single Operating Partner – FY30 I £' Workspace strategy, D&B, IT, F&B, $98.4B and business support
Slide 20: Built for GCCs
BUILT FOR GCCs awfis FROM FIRST ENTRY TO FULL MANDATE Awfis GCC Universe Why GCCs Choose Awfis • One platform for launch, operations, and expansion 100+* 23% 9 • Workspace strategy, planning, Grade A+ fit-outs - all in-house • Single partner across IT, F&B, transport, and business support Unique Ren
Slide 21: High-Value GCC Wins
HIGH-VALUE GCC WINS awfis MARQUEE FY26 ADDITIONS AND A DEEP FORWARD PIPELINE Prominent FY26 Wins Key Pipeline Mandates 14 KEY MANDATES CLOSED 8 CR MRR; 18 CR ALLIED SERVICES BILLING 13 LARGE MANDATES IN PIPELINE EXPECTED GO LIVE: NEXT 2-3 QUARTERS S.No Client City S.No Client City 1 Fitness & Wellne
Slide 22: Awfis Gold and Elite
AWFIS GOLD AND ELITE awfis OUR PREMIUMIZATION GROWTH ENGINE PREMIUM WORKSPACE PORTFOLIO BUILT FOR GCCs AND LARGE ENTERPRISES 35 27 Gold 08 Elite Centres 8 GCC hubs, 7 Tier-1 Grade A+ assets aligned cities, seamless multi- to GCC infrastructure & NEW CLIENTS ONBOARDED city scale. compliance needs. Ko
Slide 23: Awfis Transform: From In-House Capability to Standalone Growth Engine
AWFIS TRANSFORM: awfis FROM IN-HOUSE CAPABILITY TO STANDALONE GROWTH ENGINE 01 D&B BUSINESS — TREND & MOMENTUM 02 WHY TRANSFORM GROWTH IS STRUCTURAL T O T AL D & B R E V E N U E ( ₹ C R ) Sector diversification ₹205 Cr ₹278 Cr ₹257 Cr Delivering across BFSI, Pharma, Telecom, Industrials, Consulting
Slide 24: Awfis Transform: Full Wallet Capture with a Global BPM Firm
AWFIS TRANSFORM: awfis FROM IN-HOUSE CAPABILITY TO STANDALONE GROWTH ENGINE 03 CASE STUDY: FULL WALLET CAPTURE WITH A LEADING GLOBAL BPM FIRM Single relationship spanning Coworking and D&B - compounding across formats MAY '24 I 1,100 SEATS Key Metrics 1st MO Centre Opens I JUL '24 2nd MO Centre Open
Slide 25: Frame by Awfis
awfis FRAME BY AWFIS YEAR OF BUILD FOR A NEW AVENUE Capex Light, Partnership Based Model Contract Manufacturing Setup with 5+ Vendors Complete Rollout Across New Awfis Centres Early External Traction, Multiple Corporate Deals Closed I I I..... I frame 24
Slide 26: Segmental Revenue Break Up
SEGMENTAL REVENUE BREAK UP awfis 24% •• Co-working space on rent and allied services Construction and fit-out projects • Others INR CR 1,493 0 1,208 257 13 278 Co-working & Allied Services 21% grew 35% YoY in FY26, adding Rs. 321 CR in incremental revenue - compounding at an 1,237 unprecedented scal
Slide 27: Reported Consolidated Financial Summary
REPORTED CONSOLIDATED FINANCIAL SUMMARY awfis Particulars (INR Cr) Q4 FY26 Q4 FY25 Y-o-Y (%) Q3 FY26 Q-o-Q (%) FY26 FY25 Y-o-Y (%) Total Revenue from operations 410 340 21% 382 7% 1,493 1,208 24% Co-working space on rent and allied services 342 269 27% 322 6% 1,237 916 35% Construction and fit-out p
Slide 28: Normalized Consolidated Financial Summary
awfis NORMALIZED CONSOLIDATED FINANCIAL SUMMARY Particulars (INR Cr) Q4 FY26 Q4 FY25 Y-o-Y (%) FY26 FY25 Y-o-Y (%) Total Revenue from operations 410 340 21% 1,493 1,208 24% Co-working space on rent and allied services 342 269 27% 1,237 916 35% Construction and fit-out projects 69 70 -2% 257 278 -8%
Slide 29: Balance Sheet
awfis BALANCE SHEET Assets (Rs. Crores) Mar 26 Mar 25 Liabilities (Rs. Crores) Mar 26 Mar 25 Non Current assets Equity Property, Plant and Equipment 634 508 Equity Share capital 72 71 Capital work-in-progress 12 16 Other Equity 481 388 Other Intangible Asset 4 2 Total Equity 552 459 Intangible asset
Slide 30: Cash Flow Statement
awfis CASH FLOW STATEMENT Particulars (Rs. Crores) FY26 FY25 Net Profit Before Tax 72 69 Adjustments for: Non Cash Items / Other Investment or Financial Items 509 346 Operating profit before working capital changes 581 415 Changes in working capital 74 -50 Cash generated from Operations 655 365 Dire
Slide 31: About Us
awfis 30 ABOUT US 30
Slide 32: The Awfis Platform
THE AWFIS PLATFORM FOUR INTEGRATED BUSINESS LINES. ONE OPERATING PARTNER. Coworking Managed Office Allied Services transform by awfis Flexible Workspaces Customized Workplace End-to-End Services Design & Build awfis An end-to-end, built-to- A suite of B2C and B2B Commercial fit-out awfisgold suit en
Slide 33: More Than a Decade of Transformation and Impact
MORE THAN A DECADE OF TRANSFORMATION AND IMPACT awfis Chrys Capital invested C, awfis Transforrm Inaugurated (Bisque Ltd. & Link awfisgold 1st Centre Investment Trust) Launched “Awfis Peak XV 1st awfis Care Coworking” app invested Awfis Centre Inception of Prestigious Brands Promising the Company in
Slide 34: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM awfis OUR SEASONED LEADERSHIP AmitRamani Sumit Lakhani Sumit Rochlani Deepayan Sen Shweta Gupta CMD CEO Chief Financial Head- Real Estate General Manager - Officer & Leasing Compliance Officer Legal Sanjay Baurai Manu Dhir Anisha Jhawar Kabra Vishal Dhaliwal 5onakshi Shar
Slide 35: Board of Directors
AND BOARD OF DIRECTORS awfis AmitRamani Rajesh Kharabanda Anil Parashar Radhika Jaykrishna SanjayShah Chairman& Non-Executive Director Independent Director Independent Director Independent Director Managing Director -20 years in Real Estate & 37 years of experience in the 27 years of experience in t
Slide 36: Industry Recognition – FY 2026
Industry Recognition – FY 2026 Great Place to Work Certified Top 50 India’s Best Workplaces Top 100 Mid-size: India’s Best Jan 2026 – Jan 2027 in Health and Wellness 2026 Workplaces for Women 2025 ***** Best Best Workplaces· Workplaces· India’s Best Design Best Co-working Space - ET NOW - Enterprise
Slide 37: Awfis: India's New Standard for Wellness in Coworking
Awfis: India’s New Standard for Wellness in Coworking awfis Awfis has become the first coworking brand in India to achieve three WELL certifications simultaneously, reinforcing its commitment to human-centric, future-ready workspaces Triple Milestone in Excellence Through a "WELL at scale" pathway a
Slide 38: Industry Snapshot
awfis If INDUSTRY SNAPSHOT 37
Slide 39: India Office and Flex Market
INDIA OFFICE AND FLEX MARKET INDIA OFFICE & FLEX MARKET A STRUCTURAL GROWTH STORY, WHERE FLEX LEADS THE NEXT CHAPTER 82.6 MSF 58.9 MSF 21.9 MSF 8.3 MSF Record office leasing in 2025 New Grade A supply completions in Q1 CY26 gross leasing – 13% growth New Grade A supply completions in Q1 (3rd consecu
Slide 40: 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 41: Historical Financials
awfis HISTORICAL FINANCIALS 40
Slide 42: The Financial Journey
THE FINANCIAL JOURNEY awfis REVENUE, EBITDA AND ROCE TRAJECTORY Operating EBITDA Revenue from Operations 550 1,493 402 0 +60% 257 1,208 13 245 +53% 278 156 849 25 68 - - 53 205 545 1,237 21 FY21 FY22 FY23 FY24 FY25 FY26 105 916 257 178 12 619 ROCE#^ 5 49 419 62% 60% 11 162 196 FY21 FY22 FY23 FY24 FY
Slide 43: Design Portfolio
awfis DESIGN PORTFOLIO 42
Slide 44: Awfis Design Studio, Bengaluru
Awfis Design Studio, Bengaluru 43
Slide 45: Design Portfolio
DESIGN PORTFOLIO 44
Slide 46: awfis
awfis -- 45
Slide 47: Thank You
---- -· - -.= l ,_,: --- - - ~ Company Investor Relations THANK awfis sGA Strategic Growth Advisors 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 9
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