WeWork India, one of the country’s leading flexible workspace operators, has posted its strongest-ever quarterly performance in Q2 FY26, marking a major milestone in its journey toward sustained profitability. The company reported a 17.2% year-on-year rise in revenue to Rs. 585.5 crore, driven by strong enterprise demand and high occupancy across its 70 centres in eight cities.
The quarter marked a major milestone for WeWork India as it turned profitable under Ind AS for the first time, posting a PAT of Rs. 6.4 crore. Under IGAAP, PAT stood at Rs. 39.3 crore, showing the company’s growing efficiency and focus on profits.
Rising revenue and expanding margins
The company’s IGAAP equivalent EBITDA surged 45% sequentially to Rs. 118.4 crore, while margins expanded to 20.3%, highlighting improved operating leverage. Return on Capital Employed (ROCE) rose to 22.2%, supported by a disciplined growth strategy and efficient capital deployment.
Free cash flow from operations stood at ?95.4 crore, showcasing WeWork India’s strong financial position amid rising demand for flexible office spaces across urban business hubs.
High occupancy and enterprise-led growth
WeWork India’s operational portfolio currently spans 7.7 million sq. ft with an asset under management (AUM) of 10 million sq. ft, including upcoming projects. Across this network, the company manages 1.15 lakh desks with an average occupancy of 80.2%.
Enterprise clients, typically large corporations and start-ups seeking flexible, scalable office solutions, contributed around 73% of the company’s revenue. Notably, nearly half of new sales came from existing members expanding their footprint, reflecting growing trust and long-term engagement.
Mature centres operated at an even higher 84.2% occupancy, and renewal rates stood at 78%, while average membership tenure rose 17% year-on-year to 27 months.
Technology and sustainability drive growth
Alongside its core business, WeWork India is building a tech-enabled ecosystem to enhance member experience. The newly launched WeWork India App, introduced in mid-October 2025, has already seen nearly 14,000 installs and close to 10,000 bookings, earning a 4.9-star rating.
Sustainability also remains central to the company’s strategy. It has set ambitious goals to transition to 100% renewable energy by 2027 and divert 90% of its waste from landfills by 2028, part of a broader effort to build greener, more responsible workplaces.
CEO on WeWork India’s evolution
Karan Virwnia, CEO and Managing Director of WeWork India, described the quarter as a “defining moment” for the company. “With record revenue, expanding margins, and our first Ind AS PAT-positive quarter, we’ve shown that flexibility and profitability can coexist at scale,” he said.
Virwani added that WeWork India is moving beyond providing physical office spaces to offering a “full-stack ecosystem” that integrates workspace solutions, technology, and services. “We’re growing smarter, driving record revenues while creating long-term value. This proves that a sustainable, tech-enabled workspace model can power the future of work in India,” he said.
Looking ahead: scaling capacity and new markets
WeWork India is now preparing for its next phase of expansion in the second half of FY26. The company has about 11,000 desks currently under fit-out, 3,000 desks awaiting handover, and 15,000 more under letters of intent (LOIs). Once operational, these additions will increase its total managed portfolio to 10 million sq. ft.
The company plans to strengthen its footprint in Tier-1 cities and Grade-A micro-markets while deepening its digital ecosystem through value-added services and smart workspace technology.
As businesses continue to embrace hybrid and flexible work models, WeWork India’s focus on efficiency, digital integration, and sustainability positions it well to capitalise on the next wave of workplace transformation.
The latest results underline a clear trend in India’s commercial real estate market - flexible workspaces are no longer an alternative but a core part of how modern companies operate and grow.
