AWFIS / Q4-FY26 / claim-ledger

Audit the questions that mattered.

Awfis Space Solutions · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY26 · 2026-05-15Back to quarter ↗

Questions audited

Answered directly

83%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Mulza Persia · Kotak Securities

direct

Occupancy base, D&B margins, revenue-to-rent ratio

occupancy calculated on total operational seats... around 157,000 seats... design and build margins close to 7 to 8% net margins... revenue to rent ratio comes around 2.3

Yeshua Birani · BB Capital Markets Limited

direct

Operational chargeable area and partial managed office center sizes

operational chargeable area we are looking at every seat as 50 square ft... partial managed office centers... range of about 30,000 to 50,000 square ft... signing closer to about 65 to 70,000 ft centers

Yeshua Birani · BB Capital Markets Limited

partial

Highest sustainable occupancy level and drivers

blended figure of 76%... mature cohort... 84%... room to do better... couple of 100 basis point increase over next couple of quarters

Yeshua Birani · BB Capital Markets Limited

evasive

EBITDA margin trend with D&B growth and premium centers

we think we will move into a serious kind of uptake around on the margins... DNB business... will help contribute further in improving the AIDA margins

Shamit Ashai · Ambit Capital

direct

Seat addition and capex guidance for FY27

22 to 25,000 gross seats... capex would be almost on similar lines of FY26

Adita Sharma · Shikra Investments

partial

Reason for seat addition miss vs guidance

deliberate choice of quality over quantity... gross edition for FY26 had been around 30,000 seats and not 26,000 seats... closures... net addition is 22,000

Adita Sharma · Shikra Investments

direct

Impact of premiumization on medium-term growth

unionization has now become defaulted office... not a one-time deal... guidance on seats 22 to 25,000... growth somewhere in the 25% range

Adita Sharma · Shikra Investments

direct

Impact of enterprise supply on managed aggregation share

managed aggregation continues to remain a core strategy... maintain the ratios in the 6040 kind of a range

Vikran Kashab · Asian market securities

direct

Explanation of partial MO format and developer partnerships

partial MO... 40 to 60% seats anchored by enterprise... gives anchor economics from day one... developer partnerships... portfolio level relationship... put skin in the game

Vikran Kashab · Asian market securities

direct

Capex per sq ft for new premium formats vs base

6.0 from a spend standpoint is not going to be very different than 5.0... capital spend would not be very different than what we have done for FI26

Fenel Brahbert · Choice Institutional Equities

direct

Revenue guidance for construction segment and other income

Office transform expected to grow 20 to 23% over FI26 levels... others line item represents facility management services business sold last year

Shrinana Mittal · MS Capital

direct

Closure rate and whether 5% churn is normal

FY26 was a year of portfolio rebalancing... 8,000 seats closed... 3,000 seats from a short-term space setup... remaining closures at lease renewal... 5% is not the kind of churn we would look at