WeWork India Management Limited, one of India's leading premium flexible workspace operators, announced a strong financial and operational performance for Q3 FY26, delivering a record-breaking quarter driven by established profitability and consistent growth across revenue streams. The Company reported revenue of ₹640.3 crore, up 27.0% year-on-year and 9.6% sequentially, driven by rising enterprise demand and high occupancy across its national portfolio.
IGAAP equivalent EBITDA increased to ₹134.6 crore, registering 47.6% year-on-year and 13.7% quarter-on-quarter growth, with margins expanding to 21.0%. IGAAP equivalent PAT stood at ₹52 crore. Free cash flow from operations rose to ₹203.8 crore, while Return on Capital Employed (ROCE) improved to 32.6%, underscoring superior returns driven by disciplined capital deployment and balance sheet strength. The Company continued to strengthen its financial profile through disciplined capital deployment and improving unit economics, reinforcing its long-term growth and profitability trajectory.
WeWork India's suite of services and products played a critical role in driving robust growth in Q3 FY26 through diversified revenue streams. The Company's core operations - workspace as a service, including Private Office and Managed Office, contributed 83.4% revenue. Managed Office continues to scale at a steady pace alongside the overall portfolio, now contributing ~21% of the overall portfolio revenue. Value-added services accounted for 13.5% of the revenue, whereas digital products, including Workplace, All Access, On Demand & Virtual Office, contributed 3.1% towards Q3 FY26 revenue.
Operational Highlights
- Operational portfolio of 8.2 million sq ft across 73 centres in 8 cities, with AUM of 11.4 million sq ft (including LOIs), signalling the Company's market leadership with accelerating scale and occupancy.
- 1.22 lakh desks under management with 83.9% occupancy.
- Enterprise clients contributed ~74% of revenue, with a significant portion of new sales coming from existing members expanding.
- Mature centres operated at ~86.6% occupancy.
Commenting on the performance, Karan Virwani, Managing Director & CEO, WeWork India, said, "Q3 FY26 represents our strongest quarter to date, with record revenue and EBITDA. Our PAT surged over 5x YoY, demonstrating accelerating profitability and the strength of our business model. Improved occupancy, higher contribution from mature centers, and strong enterprise demand have enabled us to expand EBITDA margins by 293 basis points YoY while maintaining operational discipline. As we continue to scale responsibly with over 100K members now on our platform, our focus remains on profitable growth, technology-led differentiation, and sustainable portfolio expansion. With a robust supply pipeline, diversified enterprise client base, and improving unit economics, WeWork India is well-positioned to sustain growth momentum and continue delivering long-term value to its stakeholders."
