Co-working solutions provider Awfis expands into furniture business

Awfis, a leading co-working space provider in India, is making a significant strategic pivot, expanding its operations into the furniture manufacturing and retail sector. The move marks the company’s most notable diversification yet, underscoring a broader ambition to vertically integrate its services and boost operational efficiency.

The expansion follows shareholder approval to amend Awfis’ Memorandum of Association, enabling the company to design, produce, import, export, and trade a wide array of furniture and decor products. This includes office and home furnishings, rugs, blinds, carpets, and even ancillary services such as cleaning and upholstery.

By manufacturing furniture in-house, Awfis aims to reduce its own fit-out expenses and potentially open a new revenue stream. The company intends to furnish not only its growing portfolio of co-working centers but also serve third-party clients with customized furniture and office setup solutions.

The amended object clause provides broad operational flexibility, allowing Awfis to function as a manufacturer, wholesaler, retailer, stockist, service provider, or agent for furniture crafted from materials ranging from wood and steel to leather and fiber. The company may also engage in repairs and relocation services.

Awfis’ move into the furniture business comes amid strong financial momentum. In the fourth quarter of fiscal year 2025, it reported a 46% year-on-year revenue increase, climbing to Rs 340 crore from Rs 232 crore. Net profit during the same period surged about 11-fold to Rs 11.2 crore.

For the full year, Awfis posted revenue of Rs 1,208 crore and a net profit of Rs 68 crore, suggesting sustained operational health and profitability. As of 10:41 a.m. on Thursday, the company’s stock was trading at Rs 644.20, valuing it at Rs 4,593 crore (approximately $540 million).