Awfis Space gains on joining hands with Nyati group

Awfis Space Solutions added 1.10% to Rs 775.05 after the company said that it has partnered with Nyati group for an additional 3 lakh square feet (Sq.ft) of grade-A workspace to enhance its current managed aggregation (MA) model in Pune.

With this addition, the company now has a total of half a million sq. ft, Grade-A flexible workspace with the Nyati Group a leading real estate developer in Pune, West India. This association strengthens its partnership and accelerates growth and innovation in Pune's business ecosystem.

Through this partnership, Awfis will introduce premium flexible workspaces in Nyati Group's prime commercial properties of Nyati Empress in Viman Nagar and Nyati Enthral in Kharadi. This successful collaboration will add 1,67,206 sq. ft built up of highly sought-after office in these two thriving business districts. Together, Awfis and Nyati Group are reinforcing their leadership in Pune's flexible workspace market through their continued strategic efforts.

Commenting on the development, Amit Ramani, chairman and MD, Awfis Space Solutions, said, Our strategic partnership with Nyati Group, allows us to provide innovative and flexible workspace solutions to a wider clientele in Pune. This significant milestone under the Managed Aggregation Model displays our rapid growth and our commitment to meeting the evolving needs of businesses and entrepreneurs.

With the increasing demand for managed offices in Pune, driven by the city's expanding startup ecosystem and the influx of multinational companies, we are poised to offer premium workspaces that are both adaptable and accessible. This enables companies to thrive in a dynamic business environment, setting a new benchmark for workplace excellence, and empowering businesses to thrive in Punes vibrant landscape.

Commenting on the association, Dr. Nitin Nyati, chairman and MD, Nyati Group, added, This strategic alliance with the Awfis marks a significant example of redefining the workspace landscape in Pune. Pune's thriving business ecosystem demands innovative and adaptable workspaces, and together, we are poised to meet and exceed these expectations. This partnership underscores our commitment to providing world-class infrastructure and premium workspaces that empower businesses to flourish in Pune's dynamic environment.

Awfis Space Solutions is a leading provider of flexible workspaces in India. They offer a variety of workspace solutions, including coworking spaces, customized managed offices, and mobility solutions. Awfis also provides design and build services through Awfis Transform and facility management services through Awfis Care. Their integrated platform strategy aims to address the modern workspace needs of businesses and professionals.

The company reported consolidated net profit of Rs 1.37 crore in Q4 FY24 as compared with net loss of Rs 13.85 crore posted in corresponding quarter last year. Revenue from operations jumped 45.2% to Rs 232.32 crore in Q4 FY24 as compared with Rs 160 crore in Q4 FY23.

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