Awfis Space Solutions IPO Details, Financials, Valuation & Peers

Awfis Space Solutions Limited is India's largest flexible workspace solutions provider as of December 31, 2023, according to CBRE Report. The company operates 169 centers across 16 cities in India, offering 105,258 total seats with a chargeable area of 5.33 million sq. ft. Awfis has a diverse client base of over 2,295 clients and has presence in 52 micro-markets. Awfis provides a range of flexible workspace solutions tailored to the needs of various businesses, from startups and SMEs to large corporates and multinational corporations. Their services encompass co-working spaces, customized offices, and integrated solutions, including construction, fit-out, and facility management services.

Key Points:

• Market Leadership: Awfis is ranked 1st among the top 5 benchmarked players in the flexible workspace segment in India, with a presence in 16 cities as of December 31, 2023 (Source: CBRE Report).
• Expansive Network: Awfis operates 169 total centers, with 105,258 total seats, and a total chargeable area of 5.33 million sq. ft. Of these, 31 centers and 25,312 seats are under fit-out, covering a chargeable area of 1.23 million sq. ft. Additionally, the company has signed letters of intent (LOI) for 13 more centers, adding 10,859 seats and 0.55 million sq. ft.
• Client Base: Awfis serves over 2,295 clients and has a presence in 52 micro-markets across India.
• Workspace Solutions: Awfis provides a broad range of flexible workspace solutions from individual desks to customized office spaces catering to startups, SMEs, large corporations, and MNCs. Solutions range from hourly rentals to long-term contracts.
• Integrated Services: Beyond co-working spaces, Awfis offers Awfis Transform (construction and fit-out services) and Awfis Care (facility management). They also provide various allied services, including food and beverage, IT support, infrastructure services, event hosting, and meeting arrangements.