Ramani clarified, “Our company-wide debt stands at 21 crores, down 7 crores from last year. Profitability has grown 49% year-on-year and EBITDA 44%. Some confusion arises as a one-off sale of our facility management business was counted as recurring profit.”
Premiumization and Capex
On the capital expenditure front, Ramani explained, “Our premiumization plan started last year. Of the 26 centres, 21 are gold and 5 are elite. Capital expenditure in the first half was around Rs 100 crore, in line with the annual guidance of Rs 200 crore. The lease mix remains roughly 65% managed and 35% straight lease.”
Customer focus for companies
Discussing the company’s expansion, he said: “Of our five elite centers, approximately 10 GCC clients operate there. We have added 5,000 seats for Fortune 100 companies, including expansions at Tier II locations. In total, at least 50% of our portfolio is focused on GCC clients.”
Design and build vertical transfer
On the vertical design and build of the company, Ramani clarified, “It is not a sale, but a transfer to a 100% subsidiary. There is no cash involved. This allows us to focus on growth, partnerships and investments in the vertical sector without impacting shareholders.” Ramani’s comments are aimed at dispelling market misconceptions around debt and profitability, while highlighting Awfis’ focus on premium assets and corporate customers.
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