WeWork India Reports Record Q2 FY26 Results with First-Ever IndAS PAT Positive Quarter

WeWork India Management , a leading flexible workspace provider, has reported strong financial results for the second quarter of fiscal year 2026, marking several milestones in its growth trajectory.

Record Revenue and Profitability

The company achieved its highest-ever quarterly revenue of INR 585.5 crores, representing a 7.3% quarter-over-quarter growth and a 17.2% year-over-year increase. This robust top-line performance was accompanied by significant improvements in profitability metrics.

WeWork India reported an IGAAP-equivalent EBITDA of INR 118.4 crores, showcasing a remarkable 45% quarter-over-quarter growth and nearly 16% year-over-year improvement. The EBITDA margin expanded by 530 basis points to 20.3%, reflecting the company's focus on operational efficiency and cost discipline.

First-Ever IndAS PAT Positive Quarter

In a significant milestone, WeWork India achieved its first-ever IndAS PAT (Profit After Tax) positive quarter without any deferred tax adjustments. The company reported a profit of INR 6.4 crores under IndAS accounting standards, marking a substantial turnaround from a loss of INR 31.5 crores in the same period last year (excluding deferred tax benefits).

Key Performance Indicators

Metric	Q2 FY26	QoQ Growth	YoY Growth
Revenue	585.50	7.3%	17.2%
IGAAP-equivalent EBITDA	118.40	45%	15.8%
EBITDA Margin	20.3%	530 bps	-
IndAS PAT	6.40	Positive vs. Loss	Positive vs. Loss
Portfolio Occupancy	80.2%	-	-

Operational Highlights

WeWork India currently operates 70 centers across 8 cities, covering 7.7 million square feet with 1.15 lakh desks. The company's portfolio occupancy remained strong at 80.2%, underscoring resilient demand in the flexible workspace sector.

Enterprise accounts continue to be the cornerstone of WeWork India's business, contributing approximately 75% of the revenue. The average membership tenure increased by 17% year-over-year, reaching 27 months, reflecting stronger enterprise adoption and longer-term client commitments.

Expansion and Future Outlook

The company maintains a disciplined growth strategy with 14,000 desks under fit-out and another 15,000 desks under LOI (Letter of Intent). This expansion is expected to increase WeWork India's capacity to about 1.45 lakh desks and approximately 10 million square feet of Assets Under Management (AUM).

Karan Virwani, Managing Director and CEO of WeWork India, commented on the results: "We have delivered yet another strong quarter, combining record growth, consistent profitability, and strategic execution. WeWork India continues to lead the industry, not just in terms of scale, but also in profitability, operational efficiency, and technology-driven execution."

Financial Position

The company's net debt position improved to INR 311 crores, down from INR 529 crores in the previous year. The average cost of borrowing decreased by 500 basis points over the past year, from 15.4% to 10.4%, primarily driven by the retirement of high-cost debt through a rights issue by the promoter.

WeWork India's focus on capital efficiency is evident in its improved Return on Capital Employed (ROCE), which increased to 22.2% from 9% quarter-on-quarter.

As WeWork India continues to expand its operations and improve its financial metrics, the company appears well-positioned to capitalize on the growing demand for flexible workspaces in India's dynamic office market.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.28%	-1.61%	+1.85%	-1.11%	-1.11%	-1.11%

WeWork India Management , a leading provider of flexible workspace solutions, has reported strong quarterly results with revenue reaching ₹585.5 crore, marking a 17.2% year-on-year increase and a 7.3% sequential growth.

Financial Highlights

The company achieved an IGAAP equivalent EBITDA of ₹118.4 crore with a 20.3% margin, up 45.0% quarter-on-quarter.
Under IndAS, WeWork India reported its first-ever PAT-positive quarter at ₹6.4 crore.
EBITDA stood at ₹390.9 crore with a 66.8% margin.
Free cash flow from operations reached ₹95.4 crore.
Return on Capital Employed improved to 22.2%.

Operational Performance

WeWork India currently operates 7.7 million sq ft across 70 centres in 8 cities.
The company manages 1.15 lakh desks with an occupancy rate of 80.2%.
Enterprise clients contributed approximately 73% of revenue.
About 11,000 desks are currently under fit-out.

Expansion Plans

The company plans to continue its expansion in Tier-1 Grade-A micro-markets, indicating confidence in the growing demand for flexible workspace solutions.

Business Overview

WeWork India continues to strengthen its position as a managed workspace provider, offering flexible office solutions to businesses of various sizes. The company's financial results reflect its efforts to expand operations while improving profitability in a competitive market environment.

Summary

WeWork India's latest financial results demonstrate a positive trend with record revenue, improved profitability, and strong operational metrics. The company's ability to maintain this momentum and capitalize on the growing demand for flexible workspaces will be crucial for its long-term success in the sector.