Awfis Chases The GCC Boom
Awfis is growing beyond its original coworking playbook. Buoyed by GCC-led demand and a shift toward institutional-grade spaces, the company is now chasing both premiumisation and profitability. So, can Awfis do both while staying ahead of the curve?
The GCC Goldmine: Awfis’ premium shift is being driven by a broader change in India’s office market, where GCCs are now looking for larger, higher-quality spaces with global compliance standards. This backdrop means that the coworking giant wants to become a long-term partner for high-margin enterprises, which want flexibility and quality.
The Premium Pivot: To court India’s $100 Bn GCC ecosystem, Awfis is resetting its supply strategy. In FY26, more than 60% of its newly signed supply originated from institutional landlords, with every single centre designated for Grade A or A+ properties. Alongside, the company is also scaling its premium formats, while ensuring that the newly added facilities are 20% larger than its legacy portfolio.
De-Risking Unit Economics: Besides supply, the coworking major is also trying to avoid the trap of chasing seat count alone. Its partially managed office model is designed to bring in anchored demand before new sites open, which improves visibility and reduces risk. This makes the model more efficient, de-risks backend economics and is likely to help improve margin quality as the business grows.
Rivals On The Prowl: But the premium GCC opportunity is attracting competitors too. Smartworks, WeWork India and Table Space are pushing hard to lock down institutional real estate. To stay ahead of the curve, Awfis is experimenting with a cost-sharing developer model as well as forward leasing to secure prime, under-construction micro-markets ahead of competitors.
As flexible coworking spaces pivot to corporate infrastructure for global tech giants, can Awfis maintain its signature capital efficiency while battling for premium clients? Let’s find out…
From The Editor’s Desk
Rapido Gets CCI Respite
- The Competition Commission of India has quashed the complaint against the ride-hailing major for allegedly abusing its dominant position.
- The complainant had alleged that Rapido was enabling non-commercial two-wheelers to ply as bike-taxis in Uttarakhand. He also claimed that the company offers below-market rates by avoiding higher costs associated with commercial permits, insurance, and taxes.
- However, the CCI ruled that many of the grievances fell under the purview of the transport regulation and did not fall within the scope of competition law. It also held that Rapido pricing fell under maximum fares set by local authorities.
Weekly Funding Rundown
- Indian startups managed to raise $52 Mn across 14 deals last week, down 44% from $92.2 Mn secured across 17 deals in the preceding week. Fairdeal.Market and StrainX took home the biggest cheques at $15 Mn and $13 Mn, respectively.
- Ecommerce topped the charts last week, both in funding amount and deal count, with four startups raising more than $21.4 Mn. Advanced Hardware & Technology saw the second highest number of deals as three startups bagged more than $2.4 Mn.
- Meanwhile, seed stage funding shrank 78% week-on-week to $1.6 Mn last week. Shastra VC and Transition VC emerged as the most active investors.
Mixed Week For Startup Stocks
- Of the 57 new-age tech stocks under Inc42’s coverage, 26 gained between 0.53% and 18% last week. The remaining 30 fell in the range of 0.13% to about 18%.
- Zappfresh and EaseMyTrip emerged as the biggest losers, while Kissht and Ola Electric gained the most. The total m-cap of the 57 new-age tech companies stood at $139.25 Bn last week as against $130 Bn in the preceding week.
- The mixed show was attributed to headwinds like elevated crude oil prices, persistent FII outflows, rising geopolitical tensions in West Asia and a weakening Rupee. However, DIIs provided strong support to the markets, offsetting foreign outflows.
EaseMyTrip Bleeds In Q4
- The OTA slipped into the red in Q4 FY26, reporting a net loss of ₹15.4 Cr compared to a profit of ₹13.9 Cr in the year-ago quarter. Meanwhile, operating revenue rose a meagre 8.9% YoY to ₹151.9 Cr during the quarter under review.
- For the full FY26, EaseMyTrip swung to a loss of ₹47.5 Cr as against a profit of ₹108.6 Cr in the year-ago fiscal. Revenue from operations also fell 8.8% YoY to ₹535.7 Cr in the fiscal under review.
- The company’s EBITDA tanked more than 85.8% YoY to ₹22.9 Cr in FY26, while the EBITDA margin shrank to 4% from 26.7% in FY25.
Anushka Sharma Backs Agilitas
- The Bollywood actor has acquired a minority stake in the sportswear startup for an undisclosed amount. As part of the partnership, she will also co-create a Yoga-focused activewear offshoot under the One8 brand.
- Notably, Agilitas acquired cricketer Virat Kohli’s lifestyle label One8 last year. As part of the deal, Kohli, who is also married to Sharma, invested about ₹40 Cr in the startup.
- Founded in 2023, Agilitas is a vertically integrated sportswear brand spanning product design, manufacturing, distribution and retail. It is eyeing a piece of India’s athleisure market, which is expected to become a $22.4 Bn opportunity by 2034.
Inc42 Markets
Inc42 Startup Spotlight
How DamGoodFish Is Fixing India’s Seafood Supply Chain
India’s seafood market feeds millions, but inefficiencies run deep. A fifth of the catch is lost due to weak cold chains, while chemical preservatives are often used to mask spoilage and traceability remains guesswork. DamGoodFish is betting on technology to fill these gaps.
From Dams To Doorstep: Founded in 2023, the Gurugram-based startup sources seafood from dams and controlled water bodies, focusing on natural, chemical-free production. By cutting out fragmented intermediaries, it claims to deliver fresher, more reliable seafood products directly to consumers.
Demand-Led Harvesting: At the core of DamGoodFish’s model is a proprietary AI-driven demand prediction system. By forecasting demand at a pincode level, the platform ensures fish are harvested only when needed. This reduces overfishing, minimises waste, and eliminates the need for chemical preservation during storage and transit.
Full-Stack Control: What also works for DamGoodFish is its end-to-end supply chain. It manages everything from sourcing and harvesting to cold chain logistics and last-mile delivery. This integrated approach enables deliveries within 24 hours, while offering greater visibility into sourcing for customers.
With India’s seafood market projected to cross $30 Bn by 2030, can DamGoodFish turn a fragmented seafood market into a data-driven ecosystem?
Infographic Of The Day
A growing number of customers are facing incidents of sexual assault and physical attacks from delivery workers. So, is India’s gig economy facing a trust crisis?
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