Awfis aims to double revenue to Rs 600 cr in FY23; IPO by Dec next year
Co-working operator Awfis is targeting two-fold jump in revenue to Rs 600 crore in FY23 as demand for flexible workspace has risen post the second wave of the pandemic, its founder and CEO Amit Ramani said.
The company also plans to launch its initial public offer (IPO) towards the end of 2023 mainly to raise funds and give exits to investors, he said, adding the company has so far raised about Rs 450 crore from investors.
At present, Awfis has 150 centres across 17 cities, comprising about 90,000 desks. It offers a desk in a price range of Rs 7,000-20,000 per month.
In an interview with PTI, Ramani said the co-working segment, which includes managed office space, has been performing exceedingly well in the past 12-15 months.
"Our revenue grew to Rs 280 crore in last financial year from Rs 220 crore in previous fiscal year. This financial year, we are targeting around Rs 600 crore revenue," he said.
Ramani highlighted that the company has already achieved a monthly run rate of Rs