Awfis Space Solutions Q1 Results Review - Delivering On Guidance; Compounding Story Intact: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

In its maiden quarter post listing on the stock exchanges, Awfis Space Solutions Ltd. has delivered on its two main FY25 guidance parameters: 30%+ revenue growth for FY25 and expansion in IGAAP Ebitda margin between 11.5- 12%.

Awfis reported Q1 FY25 consolidated revenue of Rs 2.6 billion, up 37% YoY and 11% QoQ with overall occupancy at 71% and mature centre occupancy (greater then 12 months) at 84%.

With an overall operational plus committed pipeline of 127,726 seats (over 100,000 operational), we expect continued growth going ahead.

We estimate 35% operational seat compound annual growth rate, 31% revenue CAGR and 48% IGAAP Ebitda CAGR (Ebitda post lease payments) over FY24- 27E.

We retain 'Add' and target price of Rs 757 based on 25 times June 26E IGAAP Ebitda.

Click on the attachment to read the full report:

ICICI Securities Awfis Space Q1 FY25 results review.pdf

Read Document

Also Read: Talbros Automotive Q1 - Ebitda Margin Is Expected To Be Sustainable At 16.5% In Coming Quarters: Anand Rathi

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.