WeWork India Q2 FY27 Profit Jumps 67% to Rs 65.8 Crore as GCC Demand Drives Flex Workspace Boom
WeWork India Management Limited has posted a robust set of earnings for the second quarter ended September 30, 2026 (Q2 FY27), clocking strong double-digit growth across its operational and financial metrics as enterprise flex space leasing continues to accelerate across the country.
The flexible workspace operator registered a 31.6% year-on-year (YoY) rise in total revenue to ₹768.7 crore, up from the prior-year period and reflecting a sequential growth of 10.1%. Profit after tax (PAT) climbed 67.4% YoY to ₹65.8 crore, expanding PAT margins by 183 basis points to 8.6%. Operating profitability also strengthened, with Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increasing 37.6% YoY to ₹162.9 crore, yielding an EBITDA margin of 21.2% (up 92 basis points YoY and 138 basis points QoQ).
Key Financial Highlights (Q2 FY27):
- Revenue: ₹768.7 crore, up 31.6% YoY and 10.1% QoQ.
- EBITDA: ₹162.9 crore, up 37.6% YoY, with margins at 21.2%.
- Profit After Tax: ₹65.8 crore, surging 67.4% YoY; margin expanded to 8.6%.
- Free Cash Flow from Operations: ₹237.7 crore, up 149.2% YoY, translating to a 1.5x EBITDA conversion.
- Return on Capital Employed (ROCE): 34.5%, an improvement of 1,235 basis points YoY.
Record Operational Expansion
The quarter saw WeWork India execute its largest quarterly capacity addition to date, bringing in 11,700 operational desks. This expanded its operational capacity to 145,300 desks across 85 centres in eight metropolitan cities, marking a 26.9% YoY capacity expansion. Total operational footprint reached 9.8 million square feet, with a committed pipeline spanning 13.0 million square feet including signed leases.
Despite the influx of fresh inventory, demand absorption remained high. The company added 8,300 net members in Q2, lifting the total member base to 121,700—a 32.5% YoY rise that outpaced desk supply additions. Overall portfolio occupancy improved to 83.7%, while mature centres recorded an occupancy level of 87.7%.
GCCs Fuel Flexible Workspace Surge
According to industry data cited from CBRE, flexible workspace operators accounted for 24% of total office leasing in India during the third quarter of calendar year 2026, representing the single largest occupier segment for three consecutive quarters.
Enterprise clients continue to form the bedrock of WeWork India's revenue stream. Demand from Global Capability Centres (GCCs) remained particularly strong, contributing 40.8% of core revenue during the quarter. Additionally, ancillary tech solutions saw increased traction, with digital products revenue rising 45.6% YoY to ₹29.2 crore.
Strong First-Half Momentum
For the first half of the financial year (H1 FY27), consolidated revenue grew 30.1% YoY to ₹1,466.7 crore. EBITDA for H1 reached ₹301.2 crore (up 50.6% YoY) with an operating margin of 20.5%, while cumulative PAT expanded 149.5% YoY to ₹119.0 crore. Free cash flow from operations during H1 FY27 reached ₹379.8 crore, allowing the company to fully fund its aggressive physical roll-out through internal cash accruals while maintaining its borrowing cost at 8.5% backed by an A+ credit rating.
