Ashish Kacholia Holds 4.77 Per cent Stake: This Turnaround Small-cap Company to Design & Manage Office for NSE in Mumbai

The company’s shares have delivered an impressive return of around 100 per cent to its shareholders.

In a major expansion, India’s largest flexible workspace provider has won a mandate to design, build, and manage over 1.65 lakh sq ft of office space for the National Stock Exchange (NSE) at Adani Inspire, located in Mumbai’s bustling Bandra-Kurla Complex (BKC). This agreement covers two floors of the 10-storey commercial property, strategically situated with easy access to the Aqua Line of the Underground Metro and Bandra suburban station.

This collaboration highlights the provider’s commitment to delivering high-quality, customized workspace solutions that cater to clients’ evolving needs. Notably, the workspace provider already operates a coworking center within Adani Inspire, and this new mandate will add two more centers to its portfolio, strengthening its presence in Mumbai’s preferred business destination.

Management Comment

Commenting on the development, Mr. Amit Ramani, Chairman and Managing Director, of Awfis Space Solutions said, “A few months ago, Awfis became the first flex space provider to get listed on the NSE and today we are proud to welcome NSE as our client. We are thrilled to announce this collaboration which reaffirms our leadership in the flex space sector and strengthens our commitment to meeting the unique needs of clients from diverse industries. At Awfis, we provide custom solutions that align with the evolving demands of modern businesses and professionals. As the demand for flex spaces continues to grow across India, Awfis is well-prepared to meet this rising need with scalable solutions designed to support both immediate growth and long-term strategic goals, ensuring that companies have the space and flexibility to thrive in today’s dynamic business environment.”

Financial Performance

As per Quarterly Results, AWFIS Space Solutions Ltd in Sep 2024 reported a revenue of Rs 292 crore compared to Rs 208 crore representing a growth of around 208 per cent YoY. The company posted an operating profit of Rs 100 crore with a margin of around 34 per cent compared to Rs 60 crore with a margin of 29 per cent. In the current quarter, both the operating profit and margins have expanded. The company’s net profit stood at Rs 39 crore for the period compared to a loss of Rs 4 crore same quarter last year.

Read 3:1 Bonus Share: Peer Company of Suzlon Secures 87 MW Repeat Turnkey Order from Continuum Green Energy for 3 MW WTGs!

Looking at the annual performance, the company generated a revenue of Rs 849 crore in FY24 compared to Rs 545 crore in FY23 representing a growth of 56 per cent YoY. The operating profit for FY24 was Rs 246 crore compared to Rs 157 crore in FY23. The company reported a net loss of Rs 18 crore compared to Rs 47 crore.

Share Performance

At the start of today’s trading session, AWFIS Space Solutions Ltd opened at Rs 810 per share, compared to Rs 775.70 per share on the BSE. Currently, the shares are trading at around Rs 769.45 per share on the BSE. The current market capitalization stands at Rs 5,400 crore, and the stock has generated an impressive multibagger return of around 100 per cent compared to the IPO issue price.

Ashish Kacholia holds a 4.77 per cent stake in the company.

Disclaimer: The article is for informational purposes only and not investment advice.