Awfis, a workspace provider, has diversified into the furniture business to generate additional revenue and reduce costs. After obtaining shareholder approval, the company will manufacture and sell furniture products, including desks, chairs, and dรฉcor items, to its co-working centers and other businesses. By producing its own furniture, Awfis aims to achieve better efficiencies, cost savings, and control over quality and design.
The decision is backed by Awfis’ strong financial performance, with โน1,208 crore in revenue and โน68 crore in profit in FY25. The company’s Q4 FY25 results also showed significant growth, with revenue increasing by 47% to โน340 crore and profit growing 8 times to โน11.2 crore. With this diversification, Awfis aims to lower costs while establishing its own workspace, create another revenue stream, and provide complete furnishing solutions to other businesses, including products like desks, chairs, curtains, carpets, blinds, glass material, woodwork products, and dรฉcor products, as well as services like cleaning, upholstery, packing, and moving.
By diversifying into the furniture market, Awfis aims to further establish its presence in the flexible workspace market and serve more customer needs under one brand. This strategic move is expected to contribute to the company’s growth and expansion plans.
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