ICICI Securities Recommends Buy for Awfis Space Solutions with Target Price of Rs 839
Monday, 16 September 2024, 22:59
Awfis Space Solutions Positioned for Growth
ICICI Securities' latest research report reveals that Awfis Space Solutions is aligned to meet its FY25 targets, achieving over 30% revenue growth and enhanced IGAAP EBITDA margins projected between 11.5-12%.
Operational Growth Drivers
- Operational and committed pipeline of 127,726 seats, with 100,000 already operational.
- Projected 35% CAGR in operational seats and 30% revenue CAGR predicted.
- 48% IGAAP EBITDA CAGR expected from FY24-27E.
Outlook and Risks
Due to strong performance forecasts, we upgrade our position to BUY with a revised target price of Rs 839, leveraging a valuation of 26x projected Sep'26E IGAAP EBITDA. However, investors should be cautious about potential slowdowns in office leasing and competitive pricing among co-working entities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.