Awfis Space Solutions: Sustained growth outlook

35% CAGR in seat additions during FY24-27 projected

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aggregation (MA) route, along with a combination of SL (service level) contracts, should enable the company to grow operational seats at 35% CAGR over FY24-27E. We assume minimal blended occupied seat price increase over FY24-27E with a steady state operational portfolio occupancy of 71% over FY25-27E, as new centres take 6-12 months to fully mature. We envisage the company delivering 31% revenue CAGR over FY24-27E driven largely by seat expansion across cities. At the same