NEW DELHI: EFC (I), an integrated office infrastructure and design company, has reported a growth of 230.26 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 36.56 crore in Q2 FY25 as against Rs 11.07 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 171.08 crore in Q2 FY25, a growth of 72.93 per cent from Rs 98.93 crore it recorded in the similar quarter last year.
Rental income accounted for 54% of the company’s consolidated revenues in Q2 FY25 at Rs 89.19 crore while fit-out contracts at Rs 77.23 crore comprised 46%.
It has expanded its capacity by over 22.5 per cent in the last 6-7 months at over 50,000 seats at present as compared to 41,139 seats at the beginning of this fiscal.
Abhishek Narbaria, one of the executive promoter directors of the company, has stepped-down as the whole-time director, effective from October 24, 2024. However, he will continue to act as a non-executive non-independent director of the company, liable to retire by rotation, the company said in the regulatory filing.
EFC, material unlisted wholly-owned subsidiary of the company, had acquired a subsidiary 51% stake in Bigbox Ventures in July 2024. Accordingly Bigbox Ventures has become step down subsidiary of EFC (I).
£k Design Industries, an unlisted subsidiary of the company, had acquired a subsidiary 100% stake in Degwekar Industries in July 2024. Accordingly, Degwekar Industries has become step-down subsidiary of EFC (I).
