Awfis Space Solutions544181Board key decisions

New Company Secretary & Compliance Officer; Design & Build business transfer deferred

Board meeting on November 03, 2026 covered three things.

By ScoutQuest · Tue 3 Nov 2026, 6:18 PM IST · 3 min read

Board Meeting Date: November 03, 2026
Company Secretary Transition: Shweta Gupta resigns, employment up to and including November 10, 2026; Juhi Garg appointed w.e.f. November 11, 2026
Design & Build Transfer Timeline: Completion deferred beyond end of calendar year 2026

Three separate matters were placed before the board at its meeting held on November 03, 2026.

Ms. Shweta Gupta has resigned as Company Secretary & Compliance Officer, Key Managerial Personnel and from other associated positions. She will be relieved of her duties and responsibilities, with her employment continuing up to and including November 10, 2026.
Ms. Juhi Garg has been appointed Company Secretary & Compliance Officer and Key Managerial Personnel with effect from November 11, 2026, on the recommendation of the Nomination and Remuneration Committee.
From the same date she is also authorised to determine the materiality of events and information and to make disclosures to the stock exchanges, and is designated Compliance Officer under the insider trading regulations.
The outgoing officer's last working day and the incoming officer's start date sit next to each other, so the company has a named compliance officer at all times.

The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, and took on record the limited review reports issued by Walker Chandiok & Co LLP, Chartered Accountants.
The Design & Build undertaking is presented separately as a discontinued operation. For the quarter ended September 30, 2026 it reported total income of 751.61 million, total expenses of 674.74 million and profit before tax of 76.87 million.
For the six months ended September 30, 2026 the same business reported total income of 1,485.39 million and profit after tax of 109.15 million.
This is a presentation matter: because the undertaking is being held for sale, its numbers are shown outside continuing operations.

The board reviewed the status of the proposed transfer of the Design and Build business, on a slump sale basis, to Awfis Transform Private Limited, a wholly owned subsidiary, and decided to defer its completion beyond the previously indicated timeline of end of calendar year 2026.
The stated reasons are procedural, administrative, operational and transition-related requirements that need to be addressed before completion. The revised completion timeline has not yet been finalised and will be set after considering the time needed; management expects to complete these requirements in the next twelve months.
The initial purchase price was 265.91 million. The final consideration will be determined on the basis of an updated valuation report, with the closing date serving as the valuation reference date, in line with the Business Transfer Agreement and applicable laws.
Until completion, the company will continue to operate the business undertaking in the ordinary course of business, and will keep the stock exchanges informed of material developments.

The company had terminated a lease for commercial premises at Noida in March 2024 during the lock-in period, and had claimed 65.10 million; the lessor shared counterclaims.
During the quarter ended September 30, 2026, the sole arbitrator passed an award in favour of the lessor determining 82.66 million towards rent for the lock-in period (net of the security deposit), along with interest at 18% per annum and other costs of 1 million.
The company does not agree with the award and is in the process of update a petition before the High Court of Delhi seeking to set it aside. Based on an independent legal opinion, management believes it has reasonable grounds to challenge the award and that no liability is likely to arise, so no provision has been recognised in the standalone results.

During the quarter ended September 30, 2026, the company granted 16,166 Employee Stock Options to eligible employees under the Awfis Space Solutions Employee Stock Option Scheme - 2024.

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