EFC (I) Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript EFC (I) Ltd filed with BSE on 04 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
EFC India reported consolidated revenue of approximately Rs 282.88 crore for Q1 FY27, up around 29% year-on-year, with profit after tax of Rs 70.85 crore, up around 52% year-on-year. Management attributed the performance to growth across the Leasing, Design & Build and Furniture Manufacturing verticals, along with lower finance costs. The company also discussed a corporate restructuring to consolidate its subsidiaries under EFC (I) Limited, alongside an asset monetization strategy within its Leasing business.
Numbers mentioned
Revenue from operations: 282.88 crores (Q1 FY27)
p. 6
“Revenue from operations for quarter 1 FY '27 stood at 282.88 crores as compared to 219.62 crores in Q1 FY '26, representing a year-on-year growth of approximately 29%.”
Uday Vora, page 6 of the filed PDF · View the filing
EBITDA: 122.96 crores (Q1 FY27)
p. 6
“EBITDA for the quarter stood at approximately 122.96 crores as compared to 102.16 crores in Q1 FY '26, representing growth of around 20% year-on-year.”
Uday Vora, page 6 of the filed PDF · View the filing
EBITDA margin: 43.5% (Q1 FY27)
p. 6
“EBITDA margin for the quarter stood at approximately 43.5%.”
Uday Vora, page 6 of the filed PDF · View the filing
Profit before tax: 101.34 crore (Q1 FY27)
p. 6
“Profit before tax stood at 101.34 crore as compared to 66.06 crore in Q1 FY '26, reflecting a growth of approximately 53% year-on-year”
Uday Vora, page 6 of the filed PDF · View the filing
Profit after tax: 70.85 crore (Q1 FY27)
p. 6
“profit after tax stood at 70.85 crore as compared to 46.67 crores in Q1 FY '26, representing growth of approximately 52% year-on year.”
Uday Vora, page 6 of the filed PDF · View the filing
Profit after tax margin: 25.1% (Q1 FY27)
p. 6
“Profit after tax margin improved to approximately 25.1% in Q1 FY '27 as compared to approximately 21.3% in Q1 FY '26.”
Uday Vora, page 6 of the filed PDF · View the filing
Leasing revenue: 153.91 crores (Q1 FY27)
p. 6
“Leasing revenue stood at 153.91 crores during Q1 FY '27 as compared to 122.18 crores in Q1 FY '26, growing approximately 26% year-on-year.”
Uday Vora, page 6 of the filed PDF · View the filing
Leasing segment result: 64.33 crore (Q1 FY27)
p. 6
“Segment result from Leasing stood at 64.33 crore.”
Uday Vora, page 6 of the filed PDF · View the filing
Design & Build revenue: 100.39 crores (Q1 FY27)
p. 6
“The Design & Build business reported a revenue of 100.39 crores during the quarter as compared to 84.69 crores in Q1 FY '26.”
Uday Vora, page 6 of the filed PDF · View the filing
Design & Build segment result: 33.84 crores (Q1 FY27)
p. 6
“The segment results stood at 33.84 crores.”
Uday Vora, page 6 of the filed PDF · View the filing
Furniture revenue: 28.57 crores (Q1 FY27)
p. 7
“The Furniture business reported revenue of 28.57 crores during Q1 FY '27 as compared to 12.75 crores in Q1 FY '26, reflecting strong year-on-year growth of approximately 124%.”
Uday Vora, page 7 of the filed PDF · View the filing
Furniture segment result: 2.10 crores (Q1 FY27)
p. 7
“Segment results stood at 2.10 crores.”
Uday Vora, page 7 of the filed PDF · View the filing
Other income: 11.42 crore (Q1 FY27)
p. 7
“Other income for the quarter stood at 11.42 crore.”
Uday Vora, page 7 of the filed PDF · View the filing
Finance cost: 10.35 crore (Q1 FY27)
p. 7
“Finance cost for the quarter stood at 10.35 crore, lower than the previous quarter and broadly controlled relative to the scale of the business.”
Uday Vora, page 7 of the filed PDF · View the filing
Depreciation and amortization: 22.69 crore (Q1 FY27)
p. 7
“Depreciation and amortization stood at 22.69 crore.”
Uday Vora, page 7 of the filed PDF · View the filing
Design & Build order book: more than 228 crores
p. 5
“Our current Design & Build order book stood at approximately more than 228 crores.”
Nikhil Bhuta, page 5 of the filed PDF · View the filing
Furniture order book: approximately 53 crore plus
p. 5
“The order book for the furniture business is approximately 53 crore plus, which reflects growing institutional acceptance of the platform.”
Nikhil Bhuta, page 5 of the filed PDF · View the filing
Seat capacity: more than 84,000 seats, billed seats of more than 68,000 seats
p. 4
“Our managed workspace platform now spans 25 cities with total seat capacity of more than 84,000 seats, billed seats of more than 68,000 seats.”
Nikhil Bhuta, page 4 of the filed PDF · View the filing
Average occupancy rate: 90% plus (Q1 FY27)
p. 11
“Hi Fenil, yes, the average occupancy rate has been 90% plus, as you can see probably in our presentation also.”
Nikhil Bhuta, page 11 of the filed PDF · View the filing
Retention rate: roughly around 95% plus
p. 11
“Yes, our retention rate is roughly around 95% plus.”
Nikhil Bhuta, page 11 of the filed PDF · View the filing
Average enterprise client tenure: 51 months
p. 11
“our average tenure for our enterprise client has increased to 51 months, which is even better than what we have achieved for our earlier quarters.”
Nikhil Bhuta, page 11 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Leasing seat additions — 18,000 to 20,000 billable seats · FY27
stated firmly by Nikhil Bhuta
p. 12
“100% confident on kind of adding about 18,000 to 20,000 billable seats on the Leasing business.”
Nikhil Bhuta, page 12 of the filed PDF · View the filing
Design & Build growth — roughly around 50% Y-o-Y · FY27
stated firmly by Nikhil Bhuta
p. 12
“100% certain about the kind of growth that is happening under the Design & Build segment, which is, like I said, roughly around 50% Y-o-Y.”
Nikhil Bhuta, page 12 of the filed PDF · View the filing
Furniture business EBITDA margin — more than 25%
stated as an aspiration by Nikhil Bhuta
p. 11
“We expect achieving an EBITDA of more than 25% easily under this vertical.”
Nikhil Bhuta, page 11 of the filed PDF · View the filing
Furniture segment growth — similar kind of growth · FY27
stated conditionally by Nikhil Bhuta
p. 12
“we are also equally confident of achieving similar kind of growth for our Furniture vertical also, which will bring us to a very optimal capacity utilization level.”
Nikhil Bhuta, page 12 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
More than 85% of the order book is from external business relationships, as internal development is largely handled by landlords.
Answered by Nikhil Bhuta
Asked by Akash: What portion of the Design & Build and Furniture order book is for third-party versus internal capacity?
p. 8
“So more than 85% is from the outside business because the majority of the development on the internal work has already been taken care of and largely it is done by the landlords only.”
Nikhil Bhuta, page 8 of the filed PDF · View the filing
Management said the business is project-based, not seasonal, with typical order execution weighted toward Q3 and Q4, and reaffirmed confidence in the full-year growth target.
Answered by Nikhil Bhuta
Asked by Akash: Why did Design & Build revenue decline from the previous quarter, and is the business seasonal?
p. 8
“we are very confident that keeping in mind the order book that we already have, which is about more than 228 crores and our executional capability that the time line within which we execute, we are very confident of we are an absolutely on track of achieving the growth target that we have of more than around 50% under the D&B segment on a Y-o-Y basis.”
Nikhil Bhuta, page 8 of the filed PDF · View the filing
Management said the business is still scaling toward optimal capacity utilization and margins will stabilize once that level is reached.
Answered by Nikhil Bhuta
Asked by Mohan Sharma: Why did Furniture segment margin fall sharply quarter-on-quarter despite revenue growth?
p. 10
“when we operate at an optimal level and which is what we are progressing towards, I think by end of this year, we should be kind of progressing to an optimal capacity utilization.”
Nikhil Bhuta, page 10 of the filed PDF · View the filing
Order book was 135 crore at end of Q4 FY26 versus more than 228 crore currently, both largely under execution.
Answered by Nikhil Bhuta
Asked by Fenil Brahmbhatt: What was the Design & Build order book at the end of the previous quarter compared to now?
p. 12
“our order book at the end of the quarter 4 was at 135 crore worth of orders on hand, out of which, as we have mentioned, that already executed 100 crores plus of orders, which balance are under execution.”
Nikhil Bhuta, page 12 of the filed PDF · View the filing
Management described it as a corporate restructuring to consolidate subsidiaries under EFC (I) Limited for tax efficiency and simplification, not a financial restructuring.
Answered by Nikhil Bhuta
Asked by Fenil Brahmbhatt: Can you provide detail on the demerger of EFC and EFC India and its financial impact?
p. 12
“So this is more of a restructuring mode and more of a consolidation process where we are trying to kind of consolidate our corporate holding structure rather than doing anything on the financial restructuring.”
Nikhil Bhuta, page 12 of the filed PDF · View the filing
Management attributed the EBITDA decline to Ind AS accounting treatment and said PAT improvement came from rationalized borrowing costs and operating efficiencies from the integrated model.
Answered by Nikhil Bhuta
Asked by Ali: Revenue and EBITDA declined quarter-on-quarter but PAT rose — what drove this?
p. 14
“The EBITDA reduction is primarily because of the way the Ind AS accounting works.”
Nikhil Bhuta, page 14 of the filed PDF · View the filing
Management pointed to its integrated business model spanning Leasing, Design & Build and Furniture, multi-city presence, and asset monetization capability as differentiators.
Answered by Nikhil Bhuta
Asked by Ali: What is EFC's key differentiator against competitors like Awfis, Smartworks, WeWork India and IndiQube beyond price and speed of execution?
p. 15
“what is our moat in this entire business, if you see, one is this integrated business model, which kind of brings that economy of scale, that brings that economy of efficiencies”
Nikhil Bhuta, page 15 of the filed PDF · View the filing
Management said the company is currently heavy in Western India but is expanding equally across North, South and East, focusing on 10 major cities.
Answered by Nikhil Bhuta
Asked by Ali: What is EFC's current city concentration and where does it plan to expand?
p. 16
“Right now, we are focused on the 10 major cities, which is 3 in the North, 3 in South and about 3 in West, which is Mumbai, Pune, Ahmedabad and a couple of them in the eastern side, which is obviously Kolkata going forward.”
Nikhil Bhuta, page 16 of the filed PDF · View the filing
Risks flagged
Supply chain and material pricing disruptions affecting the Design & Build business
p. 8
“Yes, obviously, the market conditions overall, there has been, as you know that overall disruptions in the supply chain, overall disruptions in the material pricing, et cetera”
Nikhil Bhuta, page 8 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.