WeWork India Reports 219% Profit Increase in Second Quarter

WeWork India saw its net profit climb to ₹20.4 crore in the quarter ending September, up from ₹6.4 crore in the same period last year. The results represent a recovery from the ₹4.1 crore net loss reported in the first quarter of the fiscal year, driven by a 33.6% increase in operating revenue to ₹767.8 crore.

The company reached a record milestone in its infrastructure growth, adding 11,700 desks in a single quarter. This brings its total operational capacity to 145,300 desks across 85 locations in eight cities. Occupancy levels remain robust at 83.7%, although this represents a slight sequential decline as new supply enters the market.

CEO Karan Virwani noted that the bulk of the company's current capital expenditure cycle is now functional, which is expected to support future operating leverage. With over 9,000 desks already under lease agreements and more in the pipeline, the company aims to reach a total capacity of approximately 190,000 to 195,000 desks.

From a balance sheet perspective, the firm has moved to a net cash position of ₹23.1 crore, a significant shift from the net debt of ₹310.5 crore recorded in the same period last year.