EFC acquries 49 556 sqft in Pune for rs 80 crore

EFC, a wholly-owned unlisted subsidiary of EFC (I), has acquired 49,556 sq ft office space in Pune worth over Rs 80 crore. The center has a seating capacity over 1,500. It recently acquired another property in the city. In its earning conference call 80,000 sq ft of property in Pune. This is an freehold property that we have acquired under ownership, which will be developing and leasing under our managed office businees model . This acquistion has the potential to generate an annual revenue of about rs 14.41 crore. The company recently acquired 51% stake in Bigbox Venture which has a portfolio of over 3,000 seats in Pune and is aggressively expanding into the National Capital Region (NCR), Ahmedabad and Kolkata.  EFC (I) was also awarded design and build contract with Tata Consultancy Services (TCS). The company is currently managing about 2.25 million sq ft of assets, with 57 sites under management across seven cities. It has sitting capacity of about 47,000 seats and all as on June 30, 2024. The rental segment generated approximately Rs 66.79 crore, accounting for about 63.44% of company's total revenue, the design and build turnkey contracting business contributed Rs 35.03 crore, representing approximately 36.56% of the total revenue. It increased the area under leasehold rights by about three lakh sq ft, adding over 7,000 seats across seven centers and four existing cities during Q1 FY25.
 

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