Awfis to touch Rs 170 crore revenue by Mar 2019

Awfis to touch Rs 170 crore revenue by Mar 2019
29/09/2018 , by , in News/Views

With rising demand of shared office space, co-working operator Awfis has chalked an aggressive plan to expand its business by four times to 200 centres comprising one lakh seats over the next three years.

The company had in July raised USD 20 million (about Rs 137.57 crore) from a few investors, including Sequoia India, for expanding its operations and could raise more if required, its founder and CEO Amit Ramani said.

Awfis, which was founded in April 2015, will become profitable at entity level from next month, while centres are already making money, he added.

“We currently have 55 centres in 9 cities, comprising about 25,000 seats with a member base of over 15,000,” he told.

Its centres are in Bangalore, Mumbai, Delhi, Gurgaon, Noida, Hyderabad, Kolkata, Pune and Chandigarh.

The target is to reach 100 centres and 42,000 seats in the next 10-12 months, Ramani said. “By 2020, we are targeting to reach 1,00,000 seats in about 200 centres,” he added.

Asked about the revenue, Ramani said the company achieved a topline of Rs 57 crore last fiscal and the same is expected to reach Rs 170 crore by end of this fiscal.

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