Peak XV-backed Awfis elevates deputy CEO Sumit Lakhani to Chief Executive Officer
Lakhani joined Awfis a decade ago as Chief Marketing Officer and was promoted to the role of deputy CEO three years ago.
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Peak XV-backed co-working firm, Awfis Space Solutions has appointed Sumit Lakhani as its new CEO, succeeding founder Amit Ramani, who will continue as Chairman and Managing Director.
Lakhani will oversee operations and customer initiatives, while Ramani focuses on growth and key functions.
Lakhani joined Awfis a decade ago as Chief Marketing Officer and was promoted to the role of deputy CEO three years ago.
The change in management follows a strong financial performance where the company's revenues rose by 42% year-on-year, reaching Rs 1,208 crores in FY25. Additionally, operational EBITDA grew by 64% during this period to Rs. 402 crores, resulting in an EBITDA margin of 33.3%.
The company also delivered on its commitment to reach the targeted 135K operational seats by March 2025. Since March 2024, it has added 39K+ seats and 48 centers, bringing the total to 134K+ seats across 208 operational centers. Including fit-outs and LOIs, it has now have around 164K seats covering 8.4 million square feet.
Looking ahead to FY26, the company's strategy will have two phases. In the first half, it will focus on optimizing the expanded capacity from FY25, driving strong occupancy and efficiency. In the second half, it plans to prioritize strategic capacity expansion, targeting high-potential locations to capture emerging demand and maximize returns.
