Transcript of Earnings Call dated July 24, 2025 is attached.
EFCIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
EFC (I) Limited reported strong Q1 FY26 results with consolidated revenue of INR 220 crore, up 115% YoY, and net profit of INR 47 crore, up 196% YoY. The Managed Office/Rental segment contributed 56% of revenue and 64% of PBT, Design & Build (D&B) 39% of revenue and 34% of PBT, and the newer Furniture vertical (launched Sep 2024) 5.8% of revenue. The company is targeting 20,000–25,000 seat additions organically this fiscal and carries a D&B order book of about INR 115 crore plus a INR 100 crore interior fit-out contract; recent third-party wins include INR 183 crore and INR 60 crore contracts from MNC clients and two Passport Seva Kendra projects in Hyderabad. Management stated total capex needs of ~INR 125 crore annually for 25,000 seats, but only ~INR 20–25 crore comes from internal funds given the landlord-funded fit-out model. The company has REIT/SM REIT license and is actively scouting property acquisitions.
Sharp YoY profit growth and expansion of high-margin third-party D&B contracts beyond landlord-linked work are positive for earnings visibility, though management flagged near-term margin pressure in Q1/Q2 as new sites are built out before becoming revenue-generating. Low debt-equity (under 1:2.5) and REIT optionality provide headroom for growth and selective acquisitions.