Highlights

• Revenue for Q2 FY26 rose 17.2% YoY to ₹585.5 crore, driven by enterprise demand and high occupancy.
• WeWork India achieved IGAAP PAT of ₹39.3 crore and its first IndAS PAT-positive quarter of ₹6.4 crore.
• Record leasing momentum with nearly 1.0 million sq. ft. leased, a 39.8% increase QoQ and 62.1% YoY.

WeWork India Management Limited (NSE:WEWORK) reported its highest quarterly performance to date, with revenue of ₹585.5 crore in Q2 FY26, marking a 17.2% increase year-on-year and 7.3% sequential growth. The results reflect high enterprise demand, record leasing activity, and expanding occupancy across its national flexible workspace portfolio. The company also achieved its first-ever IndAS PAT-positive quarter, signaling a milestone toward sustained profitability.

Revenue and Profitability

WeWork India posted an IGAAP equivalent EBITDA of ₹118.4 crore, representing a 20.3% margin, up 45% quarter-on-quarter and 15.8% year-on-year. IGAAP equivalent PAT stood at ₹39.3 crore, demonstrating a turnaround in earnings. Under IndAS, EBITDA reached ₹390.9 crore with a 66.8% margin, and PAT was ₹6.4 crore. Free cash flow from operations totaled ₹95.4 crore, while Return on Capital Employed (RoCE) improved to 22.2%.

Operational Highlights

WeWork India currently operates 7.7 million sq. ft. across 70 centres in 8 cities, with an Assets Under Management (AUM) of 10.0 million sq. ft. including Letters of Intent (LOIs). The company manages 1.15 lakh desks with an occupancy of 80.2%, while mature centres report 84.2% occupancy. Enterprise clients contributed approximately 73% of revenue, with half of new sales coming from existing members expanding their space. The renewal rate stood at 78%, and the average membership tenure increased 17% YoY to 27 months.

The WeWork India App, launched in mid-October 2025, received 13,972 installs, a 4.9★ rating, and nearly 10,000 bookings. The company continues to progress toward its sustainability goals, targeting 100% renewable energy by 2027 and 90% waste diversion by 2028.

Expansion and Future Plans

Entering H2 FY26, WeWork India has approximately 11,000 desks under fitout, 3,000 desks awaiting landlord handover, and 15,000 desks under LOI, which will expand the AUM to 10.0 million sq. ft.. The company plans to deepen its presence in Tier-1 Grade-A micro-markets while scaling its digital ecosystem and value-added services to support future growth.

About WeWork India

Founded in 2017, WeWork India is a leading premium flexible workspace operator in India and has been the largest operator by total revenue for the past three fiscal years. The company is GPTW certified (Nov 2024 – Nov 2025) and continues to focus on enterprise leasing, operational expansion, and digital solutions to serve its growing client base.

WeWork shares were trading at ₹629.75 per share during the trading session on 11 November 2025.