EFC expands its portfolio by acquiring new 49,556 square feet property in Pune

The company stated that the acquisition of the property in Pune is a milestone for the company and will help the company solidify its market position along with expanding its portfolio in the managed office sector across India. Additionally, the acquisition will play a vital role in the company’s mission to deliver better facilities and services.

Earlier this month, EFC announced that it had successfully secured leases with an aggregate size of 1,94,748 square feet across Mumbai, Pune, New Delhi, Noida, Kolkata, and Ahmedabad. Noida saw the biggest lease of 71,408 square feet followed by New Delhi at 45,875 square feet. The company had secured leases amounting to 28,300 square feet in Pune.

For the quarter ended June 30, 2024, EFC announced that its net profit skyrocketed 395.91% year-on-year (YoY) to ₹15.77 crore. The company’s consolidated sales for the quarter jumped 84.57% YoY to ₹105.28 crore.

In Q1FY25, EFC’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in higher by 55.78% YoY to ₹49.62 crore.

The company’s rental revenue for the quarter stood at ₹66.79 crore while revenue from fit-out contracts came in at ₹35.30 crore.

During the quarter, the company’s leasehold area grew by 3,00,000 square feet and saw the addition of 7,000+ seats along with 7 centers across 4 cities. The company’s D&B Turnkey Contracting business won contracts worth ₹75 crore during the quarter and has contracts worth ₹100 crore under negotiation.

Shares of the company have risen by nearly 130% since the beginning of the year. The stock has gained over 101% in the past year.