Flexible workspace provider WeWork India reported a 219% increase in its consolidated net profit to ₹20.4 Cr in the September quarter of FY27 from ₹6.4 Cr in the corresponding quarter of the previous fiscal year, as revenue growth outpaced the rise in expenses. 

The company returned to profitability sequentially, compared with a net loss of ₹4.1 Cr in Q1 FY27.

Operating revenue rose 33.6% to ₹767.8 Cr from ₹574.7 Cr a year earlier. Sequentially, it increased 12.3% from ₹683.8 Cr.

Including other income and finance income, total income stood at ₹786.4 Cr. Total expenses increased 32.4% to ₹766.9 Cr from ₹579 Cr in the year-ago quarter.

Separately, WeWork India reported an IGAAP-equivalent net profit of ₹65.8 Cr, up 67.4% from ₹39.3 Cr a year earlier. Total revenue on this basis increased 31.6% to ₹768.7 Cr.

The company’s IGAAP-equivalent presentation adjusts the treatment of leases and certain other items under Ind AS. These figures differ from its statutory financial results.

On the same basis, EBITDA increased 37.6% to ₹162.9 Cr, with its margin expanding to 21.2% from 20.3% a year earlier. Sequentially, EBITDA grew 17.8%.

WeWork India added 11,700 desks during the quarter, its largest quarterly addition to date, taking operational capacity to 145,300 desks across 85 centres in eight cities. Capacity increased 26.9% from a year earlier.

The company added 18,400 desks in the first half of FY27, with another approximately 4,500 desks becoming operational in the first week of October.

In his letter to shareholders, MD and CEO Karan Virwani said the bulk of the company’s ongoing capital expenditure cycle was now operational.

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