Awfis Space Solutions Limited has informed the Exchange about Credit Rating
AWFIS · price
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India Ratings and Research has upgraded Awfis Space Solutions' term loan rating to 'IND A+' with a Stable Outlook from the earlier 'IND A'. The upgrade is driven by strong operational performance — revenue grew 55% year-on-year in FY24 and is expected to grow another 30% in FY25. The company's Ind-Ra adjusted EBITDA jumped to INR930 million in FY24 from INR344 million in FY23, and is projected to reach about INR1,650 million in FY25. Awfis remains India's largest flexible workspace operator with 193 centres, over 1.21 lakh operational seats across 18 cities, and a healthy net cash position of INR1,538 million as of 9MFY25. The upgrade covers a INR650 million term loan, a proposed INR800 million term loan, and INR300 million in proposed working capital limits.
This is a positive signal for shareholders, reflecting improving financial health, strong revenue and profit growth, and lower borrowing risk. A higher credit rating can also help Awfis raise debt at better interest rates going forward, which is supportive of the stock's investment case.