Awfis Enters Furniture Manufacturing, Boosts Revenue 46% YoY
Awfis, a prominent player in India's co-working space sector, has made a significant move by venturing into furniture manufacturing and retail. As of 10:41 a.m. on Thursday, Awfis' stock was trading at Rs 644.20, valuing the company at approximately Rs 4,593 crore ($540 million).
The company's expansion into furniture manufacturing and trading is backed by notable investors such as Q Founders and Morgan Stanley Expansion Capital. This strategic move aims to reduce Awfis' own fit-out expenses and open a new revenue stream.
In the recently concluded quarter, Awfis reported a robust 46% year-on-year increase in revenue, reaching Rs 340 crore. This impressive growth is a testament to the company's expanding portfolio. Looking at the full year, Awfis posted a revenue of Rs 1,208 crore and a net profit of Rs 68 crore.
The expansion allows Awfis to design, produce, import, export, and trade a wide array of furniture and decor products. This diversification is expected to further boost Awfis' financial performance, as indicated by the 11-fold surge in net profit to Rs 11.2 crore in Q4 FY 2025. With this strategic shift, Awfis continues to solidify its position in the market.
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