Mumbai: WeWork India reported record operational and financial performance for the fourth quarter and full financial year ended March 31, 2026, supported by rising demand across the flexible workspace sector.
The company reported FY26 revenue of ₹2,477.4 crore, up 23.4 per cent year-on-year, while EBITDA stood at ₹499.2 crore with a margin of 20.2 per cent. Profit after tax (PAT) more than doubled to ₹179 crore, with margins rising to 7.2 per cent.
For Q4 FY26, revenue increased to ₹709.9 crore, up 28.6 per cent year-on-year and 10.9 per cent quarter-on-quarter. EBITDA rose 42.8 per cent year-on-year to ₹164.7 crore at a margin of 23.2 per cent, while PAT grew 141.9 per cent year-on-year to ₹79.6 crore.
The company said it closed FY26 with an operational footprint of 8.6 million square feet across 76 centres in eight cities. Its total committed footprint, including signed leases and letters of intent (LOIs), reached 11.6 million square feet, reflecting a 39 per cent year-on-year increase.
Operational desk capacity stood at 126.9 thousand desks, while the member base increased to 110.2 thousand members, up 31 per cent year-on-year.
Portfolio occupancy reached an all-time high of 86.9 per cent, while mature centres reported occupancy of 88.9 per cent. The company stated that enterprises contributed 77 per cent of core revenue during Q4 FY26.
According to the company, nearly 48,000 new desks were sold during FY26, marking its highest-ever annual desk sales. More than half of these new desk sales came from existing members expanding within the network.
Free cash flow from operations stood at ₹585.5 crore during FY26, while the company reported a net debt negative position of ₹11.7 crore for the first time, compared to net debt of ₹215.3 crore a year earlier.
The company also reported that its cost of borrowing declined by 225 basis points year-on-year to 8.5 per cent. Its credit rating was upgraded from A− to A+.
Return on capital employed (ROCE) for FY26 stood at 28.3 per cent, while the Q4 exit print reached 45.1 per cent.
Karan Virwani said, “FY26 was a defining year for both the industry and WeWork India. Adoption of flex deepened across enterprise segments, and we continued to lead from the front while delivering on every commitment we made to the market. During the year, we listed on the stock exchanges, more than doubled PAT, turned net debt negative for the first time in our history, and continued expanding our footprint with pricing discipline and strong occupancy across centres.”
He added, “More importantly, WeWork India today is no longer just a workspace operator. We are building a full-stack platform that enables enterprises to scale – combining infrastructure, technology-enabled operations, design, flexibility and capital efficiency into a single integrated offering.”
Alongside its financial results, WeWork India launched a research study titled “AI & the Future of Flexible Workspaces” in partnership with Redseer Strategy Consultants and Smartworks.
The study, based on a survey of more than 230 Indian enterprises, found that AI hiring in India has increased sixfold since 2019, rising from 48,000 to 290,000 open roles.
The report also noted that 95 per cent of enterprises plan to accelerate AI adoption over the next 18 to 24 months, while India’s GCC AI workforce is projected to quadruple to 730,000 by 2030.
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According to the report, India’s flexible workspace stock is projected to expand fourfold to 324 million square feet by 2030, with GCC flex leasing expected to grow at a 28 per cent CAGR.
During the quarter, the company also launched Rivet, a standalone design and build platform targeting enterprises, landlords and developers.
