Awfis has entered the business of manufacturing and selling furniture, marking a notable diversification from its core co-working space operations.
This move follows shareholder approval for amending the company’s Memorandum of Association to include this new line of business.
The company said the expansion is aimed at reducing costs associated with setting up and furnishing its coworking centres through vertical integration. By manufacturing and sourcing furniture in-house, Awfis expects to achieve significant cost savings and improve operational efficiencies.
Awfis also plans to offer complete office furniture and furnishing solutions to third-party clients. According to the filing, the company will now be able to produce, import, export, trade, and repair all kinds of furniture and related items, including carpets, rugs, curtains, blinds, glass goods, woodwork, and home decor products.
The amended object clause gives Awfis the flexibility to operate as a manufacturer, retailer, wholesaler, stockist, agent, and service provider for furniture made from a wide variety of materials such as wood, steel, plastic, leather, fibre, and more. It also opens up opportunities in ancillary services like cleaning, upholstery, packing, and moving, according to the company’s disclosure.
In the last quarter (Q4 FY25), Awfis saw a 47% year-on-year increase in its revenue to Rs 340 crore, compared to Rs 232 crore in the same quarter last year. Its profit also jumped 8X to Rs 11.2 crore during this period. For the full year FY25, the company reported Rs 1,208 crore in revenue and a profit of Rs 68 crore.
Awfis is currently traded at 644.20 (as of 10.41 AM) with a total market capitalization of Rs 4,593 crore ($540 million).
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