Ashish Kacholia portfolio stock skyrockets 20% on Bangalore expansion

Shares of ace investor Ashish Kacholia-backed Awfis Space Solutions surged 20% on the BSE on Thursday to its fresh peak of Rs 945.70 after the company announced the launch of two new centers in Bengaluru offering 39,000 sq ft. and 27,846 sq ft. built-up areas, respectively.

“Awfis, India’s largest network of flexible workspaces, announced the launch of two new centers at Mantri Commerce and Vista Pixel in Bengaluru. The centers offer 39,000 sq. ft. and 27,846 sq. ft. built-up areas respectively, expanding Awfis' extensive footprint and providing premium workspace solutions in prime locations,” said the company in its filing to the exchanges.

The company stated that they have strategically situated their new workspaces in key areas. Awfis Mantri Commerce is in BTM Layout, while Awfis Vista Pixel is in North Bengaluru, providing excellent connectivity to major business districts and are conveniently close to malls, entertainment hubs, and social infrastructure.


The company said both the centers offer advanced technology and facility management services that ensure seamless and efficient business operations.

Also read: Shyam Metalics shares rally 11% as UBS initiates coverage, projects 57% upside

“We are thrilled to announce our latest additions in Bengaluru, a city at the forefront of the demand for premium Grade A office spaces. With its robust infrastructure development and access to a vast pool of skilled talent, Bengaluru is poised for exponential growth. We are confident that the demand for high-end workspaces will continue to surge in the years to come. Our new centers are strategically located to cater to this growing need, offering unparalleled amenities, cutting edge infrastructure, and a vibrant community that nurtures innovation and collaboration,” said Amit Ramani, Managing Director and Chairman of Awfis Space Solutions on the launch of the new centers.

Awfis Space Solutions is a leader in the coworking industry and has established the largest coworking network in the country. As of June 2024, the company operates 1.12 lakh seats across 185 centers, covering 5.6 million sq ft. across 17 cities. Awfis has maintained a strong focus on an asset-light and risk-averse approach through its Managed Aggregation (MA) model, with 64% of its centres and 67% of its seats concentrated in this model. This strategy allows Awfis to maximize its return on investment while minimizing risk.

The shares of Awfis Space Solutions have surged 46% in the last one month and gained 25.4% in the last 2 weeks.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)