WeWork India Reports Stellar Q1 FY27 Performance with 28.5% Revenue Growth and Surging Net Profits
New Delhi, July 17, 2026: WeWork India Management Limited today announced outstanding financial results for the first quarter ended June 30, 2026, kickstarting its next phase of capacity expansion with a massive surge in profitability. The flexible workspace provider continues to lead market momentum during a period where co-working emerged as the largest contributor to office leasing in India, accounting for 27% of total market absorption, the company said in a press release.
During the first quarter of the fiscal year 2027, WeWork India’s revenue climbed 28.5% year-on-year to reach ₹698.0 crore. The company’s EBITDA grew by 69.3% year-on-year to ₹138.3 crore, maintaining strong EBITDA margins of 19.8%. Most notably, the company’s Profit After Tax (PAT) surged by 533.3% year-on-year to ₹53.2 crore, elevating PAT margins to 7.6% and demonstrating the impressive operating leverage inherent in its business model at scale.
This robust financial growth was underpinned by rapid operational expansion. WeWork India grew its operational footprint by 18.5% year-on-year, operating 79 centres across eight key cities. This expands the firm’s total operational area to 9.1 million square feet, with a total committed footprint of 12 million square feet, including signed leases and letters of intent. The company added approximately 7,000 desks during the quarter to bring its total operational capacity to 133.6k desks. Member additions outpaced capacity growth to reach 113.4k members, helping WeWork India maintain a highly resilient overall portfolio occupancy of 84.9%, while its mature centres achieved a solid 87.5% occupancy rate.
Karan Virwani, Managing Director & CEO, WeWork India, said “We entered FY27 from a position of strength, supported by healthy demand visibility, a growing enterprise pipeline and a business model that continues to demonstrate operating leverage at scale. The demand signals we saw through FY26 gave us the confidence to begin investing ahead of demand, and Q1 marked the start of that next growth cycle. While these investments naturally moderate near-term sequential comparisons, they strengthen our ability to support long-term customer demand across our network. Even as we accelerated capacity additions during the quarter, we maintained healthy occupancy, resilient margins and strong cash generation, reinforcing the strength of our operating model. At the same time, we strengthened our value proposition with the launch of Member Services on July 15, 2026. Extending our platform beyond workspace, Member Services gives our members a single destination to access a curated network of trusted business partners, enterprise-grade solutions and exclusive commercial benefits across our network. With India emerging as a global hub for GCCs and AI-led innovation, and enterprises increasingly seeking agile and scalable workplace solutions, we believe the structural tailwinds for flexible workspaces remain strong, positioning WeWork India well for its next phase of growth.”
To sustain this growth trajectory and cater to long-term enterprise demand, WeWork India has embarked on a new capacity investment cycle, laying the groundwork to add approximately 28,000 desks over the course of the fiscal year 2027. Despite the capital deployed for these forward-looking expansions, the company’s balance sheet remained exceptionally healthy. Free cash flow from operations surged 176.1% year-on-year to ₹141.9 crore, representing an efficient 1.03 times EBITDA conversion. Additionally, the company maintained a strong Return on Capital Employed (ROCE) of 28.6% and kept its borrowing costs at 8.5%, supported by its stable A+ credit rating.
The company also expanded its physical footprint in key business districts with the launch of WeWork Embassy Vertex and WeWork Embassy Tech Village Zinnia 8C in Bengaluru, alongside WeWork Bharti Worldmark 6 in Gurugram. This aggressive expansion helped drive sales velocity up by 28.3% year-on-year, climbing from 9.9k to 12.7k desks sold during the quarter. Furthermore, WeWork India’s managed office business continued its strong run, delivering and signing more than 5.1 lakh square feet of customized workspace mandates. This included handing over a specialized facility in Hyderabad to a leading global technology and engineering firm, alongside securing new corporate managed office agreements with a prominent American multinational IT corporation and a leading compliance intelligence firm.
