Realty company EFC (I) announced Q2FY25 results Consolidated revenues increased by 63% per cent at Rs 166.44 crore in Q2FY25. Rental income accounted for 54% of consolidated revenues; fit-out contracts comprised 46% in Q2FY25. The company recently added close to 1,75,000 sq. ft. to its co-working portfolio by expanding capacities in 2 Cities and adding 3600 seats. Rental income accounted for 54% of the company’s consolidated revenues in Q2FY25 at Rs 89.19 crore; fit-out contracts at Rs 77.23 crore comprised 46%. The company’s consolidated EBITDA surged by 49% at Rs 83.97 crore, up from Rs 41.27 crore same period last year. Net profit grew by 267 per cent at Rs 5,233.53 crore, as against Rs 1425.17 crore same period last year. Consolidated revenues increased by 77 per cent at Rs 27,636.35 crore. Umesh Sahay, Founder & CEO, EFC (I), said: “We are living in very interesting times so far as the co-working spaces is concerned as India is witnessing an explosive growth in the segment backed by sectors such as IT& ITeS, BFSI, new-age start-ups, e-commerce, consulting and the global captive centres. The co-working space has more than doubled from 29.3 million sq. ft in 2019 to 61 million sq. ft in 2023. A recent report by Avendus Capital estimates that the sector will grow at a CAGR of 15 per cent to touch 126 million sq. ft and address approximately USD 9 billion market by 2028. This surge in demand has augured well for our company and contributed to 131% growth in net profit and 63% surge in revenues. Moving forward, we expect the demand momentum to continue thereby driving our revenues. Besides, our high-margin furniture business will further help shore up our profitability going forward.” Result PDF
Conference Call with EFC (I) Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.