Coworking co EFC January-March net profit up 205% at 27.94 crore

Pune-headquartered integrated serviced offices provider EFC Ltd has recorded 205% on-year rise in consolidated net profit of Rs 27.94 crore for the quarter ended March. The company’s consolidated sales grew 63% to Rs 99.11 crore, while operating profit increased to Rs 58.23 crore from Rs 35.54 crore.

Segment-wise, the only listed co-working space company's rental business accounted for a major share of total revenue at Rs 69.95 crore followed by fit out contracts business at Rs 23.24 crore and Rs 5.92 crore from other businesses.

For the financial year 2023-24, EFC reported net profit of Rs 63.17 crore as against Rs 3.86 crore a year-ago. Total sales during the year rose 312% to Rs 428.78 crore, while operating profit grew to Rs 191.92 crore from Rs 56.26 crore a year ago.


The company, with presence in seven cities, has total assets under management of 1.9 million sq ft. The company has a total seating capacity of 40,000 with an average rental per seat at Rs 6,250.

The company has also contracted for adding more than 4 lakh square feet of leased spaces across Pune, Noida, and Hyderabad, and also closed a single largest contract with Co-Forge for developing 1 lakh sq ft of commercial space.