AWFIS SPACE SOLUTIONS

PRIVATE LIMITED IPO ROADSHOW

 ABOUT AWFIS

We provide a wide spectrum of flexible workspace solutions ranging from individual flexible desk
needs to customized office spaces for start-ups, small and medium enterprises (“SMEs”) as well as
for large corporates and multi-national corporations. Our flexible workspace solutions cater to varied
seat cohorts ranging from a single seat to multiple seats, which can be contracted by our clients for
a period ranging from one hour to several years. Over time, we have evolved from a co-working
space to an integrated workspace solutions platform.

We are the largest flexible workspace solutions company in India as on June 30, 2023, based on
total number of centers. (Source: CBRE Report) As on June 30, 2023, we are ranked 1st among the
top 5 benchmarked players in the flexible workspace segment with presence in 16 cities in India.
(Source: CBRE Report) Further, as on June 30, 2023, we are present in the maximum number of
micro-markets in India.
PLUG & PLAY OFFERING

POWERED BY
 WORKSPACE
AWFIS

FORMATS
Awfis: ‘Awfis’ is our core standard format targeting the
‘value’ customer segment while delivering high quality
designs and infrastructure across key micro markets of Tier
1 and Tier 2 cities.

AWFIS GOLD
‘Awfis Gold’ is our flagship premium workspace solution,
designed for the ‘premium’ customer segment, situated
across Grade A buildings located in key micro markets
of Tier 1 cities such as Mumbai, Bengaluru, Hyderabad,
Kolkata and Chennai.
 AWFIS SUPPLY STRATEGY

1 2
SL model: Under the SL model, developers or space owners lease space to MA model: The MA model is more collaborative in nature, wherein our
flexible workspace operators on traditional leases wherein typical market space owners become a stakeholder in the center by co-investing in the
terms and conditions are applicable, including a fixed monthly rental, fit-out infrastructure. The developers or space owners typically incur
common area maintenance charges, security deposit, minimum lock-in capital expenditure on fit-out, in part or full, the remainder being borne by
period, lease tenure and escalations. We typically enter into SL the operator, if any, depending on other terms of the MA model, often
arrangements for a period of five to nine years. The capital expenditure for foregoing a fixed rental for a component of MG on a case-to-case basis
fitting out the property is entirely borne by us. The SL model is the most and may take up a share of the revenue/profit on pre-negotiated terms.
prevalent arrangement between a space owner and a flex workspace (Source: CBRE Report) The split of the capital expenditure under the MA
operator in India. Under the SL model, the risk of capital, occupancy build model between the space owner and us is determined upfront and the
up and preoperative operational burn is borne by us. space owner’s share remains fixed for the term of the contract.
GROWTH SIGNIFICANTLY
Over the years, we have increased our focus on the lower-
risk, asset light MA model and as of June 30, 2023, 64.96% of
our centers are under the MA model, based on total seats. We
have increased the percentage of operational centers and
seats under the MA model from 50.00% and 46.37%,
respectively, in Fiscal 2021 to 55.46% and 57.66%,
respectively, in Fiscal 2023. We have the largest number of
centers under the MA model among the organized flexible
workspace players in India as on June 30, 2023. We
witnessed a growth of 127.59% and 180.34% in our
operational centers and operational seats under the MA
model, respectively, between Fiscals 2021 and 2023.

128% 180%
AWFIS STRATEGIES

Continue to build an industry Expand in new and existing

1 2
leading capital efficient model markets

• Increase focus on asset light MA Model • Controlled and methodical expansion

• Continue to develop mid-size centers • Investment in markets with stronger long-term returns
• Meet the needs of space owners and clients alike • Early focus on tier-2 cities

Enhance our product and Improving Operational

3 4
service offerings efficiency

• Apply our understanding of clients' needs • Build strong vendor base

• Increase focus on Awfis Transform, Care and • Leverage on technological tools
allied services • Improve employee learning and development
• Cater to wider range of clients
MARKET ANALYSIS
India is a leading office market globally, backed by, among other things,
a strong abled and skilled demography, well established and evolving
infrastructure and real estate sector, ample support infrastructure and a
strong economy backed by political stability. India's commercial office
stock stands at 799.1 million sq. ft. as of June 30, 2023, and is Total Stock
concentrated in the top 9 cities comprising of Bengaluru, Mumbai
799.1
Metropolitan Region ("MMR"), Hyderabad, Gurgaon, Chennai, Pune,
million sq.
Noida, Kolkata, and Delhi, in order of size of market. The 799.1 million
ft.
sq. ft. stock is considered as organized stock and is purely utilized as
office space. In addition, the unorganized commercial office stock
across tier 1 cities can be estimated to be approximately 430 – 670*
million sq. ft. (depending on the average work desk area occupied per
person) as of June 30, 2023.
 EVOLUTION OF OFFICE STOCK IN INDIA
India's office real estate landscape has changed significantly in the past two and a half decades. Since the early 2000s, office stock
has grown more than 18 times from approximately 46 million sq. ft. as of pre 2003 to approximately 832 million sq. ft. as of
December 31, 2023. Indian real estate has emerged as a favored investment asset class due to various intrinsic factors including
growth of the economy, demand-supply fundamentals, investor-friendly policies, and increased transparency.

India - Total Office Stock (Pre 2003 - 2026 E)

200 million sq. ft.
added over 4 years,
Office market almost doubled
registering a CAGR of
in size within a timeframe of 8
approximately 7%
years, growing from over 300
Took over 15 years to million sq. ft. in 2010 to nearly
reach a market size of 600 million sq. ft. as of 2018.
approximately 300 million
sq. ft. by 2010.
Huge Demand

68%
The number of entities
recognized as certain
enterprises by DPIIT
has a CAGR 68%
 Growth of APAC Flexible Office
Fl Market

Flexible Workspaces – Asia

ex (million sq. ft.)
ibl
e

Pacific (“APAC”) Overview

Of
fic
e
St
oc
While the flex market has been growing globally, the APAC region stands out
k
having displayed a strong enthusiasm for the sector accounting for a rapid market
(m
expansion in the last few years. As on March 31, 2023, there are approximately
n
3,000 flexible centers in the region. The inventory of flexible office space in the
sft
APAC region has more than quadrupled, from approximately 21 million sq. ft. in
)
2016 to over 99 million sq. ft. as on March 31, 2023 supported by the shared
economy boom and significant influx of venture capital.

Flexible office market has registered a CAGR of approximately 34% between 2016
and first quarter of 2023. Major industry sectors driving demand for flex space
includes technology and business services followed by finance sector.

Industry Sectors Driving

Flexible
Office Demand in Asia
Pacific
AWFIS TEAM

Our team is a diverse blend of

creative minds, strategic
thinkers, and industry experts Amit Ramani Sumit Lakhani Manu Dhir
CEO Deputy CEO Chief Operating Officer
committed to propelling your
business to new heights. With
a passion for innovation and a
collective dedication to
excellence, we bring a wealth
of experience and fresh
perspectives to every project.

Ravi Dugar Deepayan Sen

Chief Financial Officer Head- Real Estate & Leasing
FINANCIAL
GUIDANCE
Y-o-Y
Y-o-Y growth Three months
(in ₹ million, except growth(Fiscal
percentages)
Fiscal 2021 Fiscal 2022 Fiscal 2023 (Fiscal 2022v. ended June 30,
2021 [Link]
Fiscal 2023) 2023
2022)

Total equity 1,507.53 947.21 （37.17)% 1,693.64 78.80% 1,627.62

Total borrowings 29.67 121.07 308.06% 109.23 (9.78)% 317.92

Total income 2,160.20 2,787.16 29.02% 5,657.87 103.00% 1927.15

EBITDA Margin 42.01% 32.29% （23.14)% 31.12% (3.63)% 28.98%

Capital employed 654.30 813.02 24.26% 1,431.38 76.06% 1420.86

FINANCIAL
GUIDANCE
930 Cr
Total Asset 2023

82.33%
INCOME YOY (2022 v 2023)

66.36%
Total Asset YOY (2022 v 2023)
Peers
 IPO Open: May 22, 2024

AWFIS SPACE IPO Close: May 27, 2024

SOLUTIONS IPO IPO Size: Approx ₹598.93 Crores, 15,637,736 Equity Shares

DATE & PRICE Fresh Issue: Approx ₹128 Crores, 3,342,037 Equity Shares

BAND DETAILS Offer for Sale: Approx ₹470.93 Crores, 12,295,699 Equity Shares

Face Value: ₹10 Per Equity Share

Price Band Announcement: May 21, 2024

IPO Price Band: ₹364 to ₹383 Per Share
IPO Open Date: May 22, 2024
IPO Listing on: BSE & NSE
IPO Close Date: May 27, 2024

Retail Quota: 10%

Basis of Allotment: May 28, 2024

QIB Quota: 75%

Refunds: May 29, 2024

Credit to Demat Account: May 29, 2024 NII Quota: 15%

IPO Listing Date: May 30, 2024

Discount: N/A
Thank you for choosing Awfis&PIMCO.
We look forward to providing you with excellent investment services and achieving success together!