Awfis Space Solutions Limited has completed the allotment of 31,450 equity shares to eligible employees under its Employee and Director Stock Options Scheme 2015 (EDSOP 2015). The Nomination and Remuneration Committee approved this allotment through a resolution passed by circulation on February 09, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share Allotment Details

The allotted shares carry a face value of Rs. 10 each and were issued to employees who exercised their vested stock options under the EDSOP 2015 scheme. The exercise of these options generated total proceeds of Rs. 44,65,800.00 for the company.

Exercise Price Structure

The shares were allotted at two different exercise price levels, reflecting the varying grant dates and market conditions when the options were originally issued to employees.

Impact on Share Capital

Following this allotment, the company's paid-up share capital has increased substantially. The total number of outstanding equity shares has grown, reflecting the dilutive effect of the employee stock option exercise.

ESOP Scheme Status

Under the EDSOP 2015 scheme, 2,02,703 options remain vested as of the reporting date, excluding the total shares exercised till date. The scheme allows employees a 15-year exercise period from their respective vesting dates. Out of the total 23,76,866 options for which in-principal approvals were obtained from NSE and BSE, 41,140 options have lapsed.

The diluted earnings per share stands at Rs. 9.34 as of March 31, 2025. All newly allotted equity shares rank pari passu with existing equity shares of the company, carrying identical voting rights and dividend entitlements.

Awfis Space Solutions Limited demonstrated strong operational and financial performance in Q3FY26, with consolidated revenue growing 20% year-on-year to Rs.382 crores. The company's EBITDA surged 30% to Rs.139 crores, with margins expanding by 270 basis points, reflecting improved operational efficiency and favorable operating leverage.

Financial Performance Highlights

The company's financial metrics showed robust growth across key parameters during the quarter:

For the nine-month period FY26, consolidated revenue reached Rs.1,083 crores (up 25% YoY), while operating EBITDA stood at Rs.398 crores (up 39% YoY) with margins at 36.70%.

Segment-wise Performance

The co-working and allied services segment continued to drive growth, rising 32% year-on-year to Rs.322 crores and contributing 84% of total revenue. This momentum was supported by high occupancy levels across an expanded seat base and strong traction from Global Capability Centers (GCCs) and enterprise clients.

The construction fit-out projects (Awfis Transform segment) contributed Rs.60 crores during the quarter, though this segment saw a decline due to temporary project deferrals and execution delays linked to GRAP-IV pollution norms, as well as lower managed aggregation seat additions.

Operational Metrics and Expansion

Awfis added over 8,000 new seats during Q3FY26, bringing total operational capacity to approximately 152,000 seats across 232 centers. Including centers in fit-out phase and under LOI, total capacity stands at 177,000 seats across 257 centers, covering 8.6 million square feet.

The company maintains a diversified client base of over 3,400 active clients, with approximately 64% of occupied seats taken by large corporates and MNCs, 25% by SMEs and mid-corporates, and the remainder by startups and freelancers.

Leadership Changes and Strategic Focus

The company announced the appointment of Sumit Rochlani as Chief Financial Officer effective February 3rd, 2026, replacing Ravi Dugar. Rochlani brings over 14 years of experience across audit, controllership, financial planning, and corporate finance, having previously served as Head of Finance at Awfis.

Awfis continues to focus on Grade-A buildings and premium locations, with 100% of new supply in Grade-A and A-minus assets. The company operates 32 premium centers, including 25 gold centers and 7 elite centers across prestigious commercial locations. The Tier-2 seat capacity grew 16% year-on-year, demonstrating expanding market acceptance beyond metropolitan centers.

Market Position and Outlook

The company serves over 80 GCCs in its ecosystem, contributing 21% of space revenue share. Multi-center clients account for 46% of occupied seats, with average client tenure of 37 months and average lock-in period of 26 months, demonstrating strong client stickiness.

With a managed aggregation pipeline of 8 lakh square feet committed across prime micro-markets and a third-party transform pipeline spanning 9 lakh square feet (translating to approximately Rs.200 crores revenue opportunity), Awfis is well-positioned for continued growth in India's expanding flexible workspace market.