WeWork India Management Limited reported a 142% year-on-year surge in net profit to ₹79.6 Cr for Q4 FY26, driven by record occupancy and operational efficiency. Revenue from operations increased 29% to ₹709.9 Cr, while EBITDA rose 42.8% to ₹164.7 Cr, expanding the margin to 23.2%. The company turned net debt negative for the first time at -₹11.7 Cr, compared to a net debt of ₹215.3 Cr in the previous year, and secured a two-notch credit rating upgrade to A+.

Financial Performance

The company delivered broad-based growth across profitability and margin metrics for the full year ended March 31, 2026. Annual revenue from operations increased to ₹2,477.4 Cr from ₹2,007.3 Cr in the previous year. The annual standalone net profit was ₹179 Cr, more than doubling from the prior year. The EBITDA margin for the quarter expanded to 23.2% from 20.9% on a year-on-year basis.

Operational Highlights

WeWork India closed FY26 with an operational footprint of 8.6 million sq ft across 76 centres in 8 cities. Portfolio occupancy reached an all-time high of 86.9%, with mature centres standing at 88.9%. The company sold close to 48,000 desks during the year, representing 3.3 million sq ft of leasing, its highest ever 12-month velocity. Management attributed the growth to broad-based demand across sectors, with BFSI and telecommunications leading the way.

Outlook and Strategy

Management highlighted that the flex workspace category is being shaped by multiple structural tailwinds, including the AI demand wave, GCC build-out, flight to quality, and a shift away from long-term leases. The company noted that AI hiring in India is up 6x in six years, and flex stock is projected to grow 2.5x to 257 million sq ft by 2030. For FY27, the company expects to add approximately 28,000 seats, with capex estimated between ₹500 Cr and ₹600 Cr.

WeWork India Management has reported its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 21, 2026. The company posted a consolidated net profit of Rs 749.18 million for the fiscal year, marking a turnaround from the previous year's performance.

Financial Performance Overview

For the year ended March 31, 2026, the company reported revenue from operations of Rs 24,401.80 million, compared to Rs 19,492.11 million in the prior year. Total income for the year stood at Rs 24,904.28 million. On a standalone basis, revenue from operations was Rs 24,317.63 million, with a net profit of Rs 722.15 million for the year.

Quarterly Results

In the quarter ended March 31, 2026, the consolidated net profit was Rs 658.70 million. Revenue from operations for the quarter increased to Rs 6,960.63 million from Rs 5,393.67 million in the corresponding quarter of the previous year. The standalone net profit for the quarter was Rs 643.72 million.

Key Financial Metrics

The company's earnings per share (EPS) on a consolidated basis for the year was Rs 5.55 on a basic basis and Rs 5.40 on a diluted basis. For the quarter, basic EPS was Rs 4.88. The paid-up equity share capital of the company increased to Rs 1,353.78 million during the year pursuant to the allotment of equity shares on the exercise of stock options by employees.

The statutory auditors, M/s. S.R. Batliboi & Associates LLP, issued an audit report with an unmodified opinion on the standalone and consolidated financial results.