Workspace solutions provider Awfis Space Solutions Ltd. expects a 30% revenue growth in the current financial year, according to Chairperson Amit Ramani.
The company sold 53,000 seats in FY25, up from 37,000 in FY24, Ramani told NDTV Profit in a conversation on Monday.
"If we were to add a similar number of seats this year, we have 1,35,000 that are live. If I include the under-fit-out seats and LOI, I'm sitting at, I think roughly 1,52,000 seats," he said. "So, I have visibility of another 30,000 seats already sitting in the second month of the year, or the first quarter of FY26."
Asked about deal timelines, the managing director explained that a straight lease typically takes around a month to finalise, while a managed aggregation deal can take anywhere from one to 12 months due to complex negotiations beyond just rent and deposit.
"Once signed, it typically takes 60 to 90 days to build out an average centre. In strong micro markets, we can reach 85% occupancy within six months. In weaker ones, it may take up to 12 months to stabilise at that level," he explained.
While the current blended occupancy is at 73%, there is scope for improvement as Awfis expands, Ramani said.
"Earlier, when we added 40,000 seats on a base of 95,000, it was nearly a 50% capacity increase. Now, adding another 40,000 on a base of 1,35,000 means a larger share of our portfolio will consist of mature centres," he said.
These mature centres, which operate at around 84% occupancy after 12 months, will form a bigger portion overall, according to Ramani. "As a result, we expect margin improvement."
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