EFC (I) — Q4 FY24 earnings call

Capacity

• Total Seat Capacity Capacity · by March 2026 · High confidence 92,000 seats

  The company planned to increase its seat capacity from the present level to 92,000 seats by March 2026.

  — Moderator

• Total Seat Capacity Capacity · by end of FY25 · High confidence 65,000+ seats

  By FY25, we should be closing at around our target is to close around 65,000 plus seats that we like to achieve by then.

  — Management

• Total Seat Capacity Capacity · by September · High confidence 50,000 to 55,000 seats

  So just to give you a bit of trajectory, I mean as we speak already, by September we'll be touching around 50,000 to 55,000 seats which are already contracted in the sense that you know they are already in the development or you know beginning to get into development.

  — Management

• Total Seat Capacity Capacity · by March (FY25) · High confidence 65,000 seats

  So, by September we'll be touching between 50 to 55 and by March certainly would be crossing 65,000 seats.

  — Management

Revenue

• Furniture Business Revenue Potential Revenue · Medium confidence 300 to 400 crores

  Umesh ji in one of his interviews has mentioned that the revenue potential for furniture business can be 300 to 400 crores

  — Dhruv Mukesh Bajaj

• DNB Order Book Translation to Revenue Revenue · Q1 and Q2 · High confidence —

  They will get translated in revenue in the first and second quarter, both coming together because you know there are gestation period involved. So, it will take I mean in both this quarter you will see the results capturing these numbers.

  — Management

Operational

• Furniture Manufacturing Unit Operational Operational · FY2025 · High confidence FY2025

  our interior fit out division is already witnessing an upward trend. As we speak, we have already become a kind of a preferred vendor to lot of large corporates and organizations across and we are delivering successfully on a timely basis with quality services to clients like TCS, Coforge and many more, which is all made marking a significant milestone for our group to go to the next level not just this vertical complementing our existing legacy business of managed office space, but creating a SPU which itself is profitable and creating its mark in the industry.

  — Nikhil Bhuta

• NSE Listing Operational · in the coming financial year · Medium confidence —

  Well, yeah, I mean we're working on it, obviously and we target internally that in the coming financial year, we should be, you know targeting listing on NSE.

  — Management

Occupancy

• Occupancy Level for New Centers Occupancy · within next three months · High confidence 80% plus

  So, I mean generally, you know our targets are that you know by the time our development work finishes in about next three months' time, we occupy you know around 80% plus of the capacity

  — Management

Growth

• Seat Capacity Growth Rate Growth · year-on-year · High confidence 75%

  we would definitely be increasing our seat base, you know from year-on-year basis with 75% growth rate at least in the seat capacity.

  — Management

Capex

• CapEx Cost per Seat Capex · High confidence ₹50,000

  So, CapEx cost per seat for us is around 50,000. That's what we kind of estimate internally and that's what the target we really have.

  — Management

• Furniture Part of CapEx per Seat Capex · High confidence ₹30,000

  So out of 50,000, if broadly, if you look at it about around 60%, which is, you know roughly around, let's say around 30,000 goes towards the furniture part of it.

  — Management

Capacity Utilization

• Furniture Division Capacity Utilization Capacity Utilization · during the first year · Medium confidence 60 to 80%

  I think our ability to achieve a reasonable capacity of more than 60 to 80% is pretty much possible during the first year itself.

  — Management

Margin

• DNB Division Net Margins Margin · High confidence 13 to 15%

  in office spaces development we probably made between, let's say around 13 to 15% on a net level

  — Management

• DNB Division Net Margins (Specialized Contracts) Margin · High confidence 15-16%

  when you go into those specialized contracts of R&D centers and laboratories etc. and it increases by 5-6% for sure. So average out to we certainly would be in a position to you know achieved 15-16% of margins that we are even right now also have targeted this year.

  — Management

• Furniture Manufacturing EBITDA Margin Margin · High confidence 40%

  the manufacturing of furniture as our MD - Mr. Umesh Sahay said that you know will definitely contribute that level of turnover. But the margin level would be you know easily would be around 40% that on an EBITDA level, that would be making under this division.

  — Management

• Rental Space EBITDA Margin Margin · High confidence 30 to 35%

  When it comes to our rental space business, the margin level or an EBITDA level you know is between 30 to 35%

  — Management

• DNB EBITDA/PAT Margin Margin · High confidence 16 to 17%

  the recoverability on an EBITDA level there is about 16 to 17% on a DNB division.

  — Management

• Blended PAT Margin Margin · going forward · High confidence 15 to 20%

  So, on a PAT level going forward^⏳, again it will remain between 15 to 20% with the inclusion of furniture division, the PAT you know contribution would also increase on a group level.

  — Management

Order Book

• DNB Division Signed Contracts Order Book · High confidence 132 crores

  So, on the DNB division, I have already signed contracts of 132 crores, which includes contracts from Coforge, TCS and then many other organizations

  — Management

• DNB Division Contracts under Documentation Order Book · High confidence 60 odd crores

  and they're about 60 odd crores or contracts under documentations and negotiation while we speak

  — Management