WeWork India Q2 revenue surges over 22% YoY to ₹575 crore, EBITDA rises 16%; check numbers

However, it is worth noting that the company recorded a tax credit of ₹235.20 crore in Q2 FY25. The company had clocked a loss before tax of ₹31.5 crore in the September quarter of the previous fiscal year.

The premium flexible workspace operator’s revenue from operations surged 22.41% year-on-year (YoY) to ₹574.7 crore during the quarter under review, compared to ₹469.5 crore in the same period of FY25, it said in a regulatory filing.

It presented a well-diversified member base, with the top 10 of its clients contributing 23.2% to its revenue from core operations in the second quarter of FY26.

On a sectoral basis, the technology industry constituted 34.5% of its core operations revenue, followed by the finance sector at 15.2%, professional services at 10.4%, media at 7.8%, pharma at 5.6%, consumer at 4.8%, manufacturing at 4.7%, and other sectors at 17%.

By member-type, 24.2% of its revenue came from Fortune 500 members, 34.2% from large enterprises, 26.6% from non-enterprise members, and 14.9% from other enterprise members, it said in its investor presentation.

Enterprise clients contributed approximately 73% of revenue, with half of the new sales coming from existing members expanding.

At the domicile level, international markets made up 61.9% of its revenue from core operations, while domestic markets contributed 38.1% during the quarter.

Its IGAAP equivalent EBITDA (earnings before interest, tax, depreciation, and amortisation) stood at ₹118 crore for Q2FY26, marking a 15.8% annual jump from ₹102 crore in the corresponding quarter last year.

The company’s IGAAP EBITDA margin expanded to 20.3% during the reporting period, from 21.1% in the September quarter of FY25.

WeWork India’s operational portfolio size stood at 7.7 million sq ft across 70 centres in 8 cities, with AUM of 10.0 million sq ft.

Its desks under management were at 1.15 lakhs, with an occupancy rate of 80.2% during the reporting period.

The firm’s renewal rate stood at 78% while average membership tenure rose 17% annually to 27 months, it added.

Its WeWork India App saw 13,972 installs and nearly 10,000 bookings since its launch in mid-October 2025.

What the management said

Commenting on the earnings, Karan Virwani, Chief Executive Officer & Managing Director of WeWork India, said: “Our Q2 results signify a defining moment in WeWork India’s journey. With record revenue, expanding margins, and our first IndAS PAT-positive quarter, we’ve demonstrated that flexibility and profitability can coexist at scale. This quarter reflects strong improvement in operating leverage and profitability, with IGAAP EBITDA up 45.0% QoQ and ROCE strengthening to 22.2%.”

“We’re evolving beyond physical spaces into a full-stack ecosystem of workspace solutions, services, and technology. WeWork India is creating sustainable environments that empower organisations and impact communities to do their best work. We’re not just growing faster; we’re growing smarter, driving record revenues and expanding margins while delivering long-term value,” he added.

WeWork India’s total market capitalisation stood at ₹8,552.02 crore, as of November 10, 2025, according to data on the NSE.