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WeWork India reported a net profit of INR 16.78 crore in the third quarter, a significant improvement from a loss of INR 83.11 crore in the same period last year, driven by higher revenue of INR 643.81 crore. For the first nine months, profits remained modest at INR 9.04 crore, though income rose steadily. Operating across eight major Indian cities with 73 centres covering 8.2 million sq ft, the company emphasizes profitable growth and technology-led differentiation. The Bengaluru-based Embassy Group promotes WeWork India, which went public last year following a successful IPO.
WeWork India reported a consolidated net profit of INR 16.78 crore in the third quarter of this fiscal year, reversing a loss of INR 83.11 crore in the same period last year. This improvement comes on the back of higher revenue, which rose to INR 643.81 crore during October-December, compared with INR 508.37 crore in the corresponding period of the previous year, according to a regulatory filing. Advertisement
For the first nine months of the fiscal, the company recorded a net profit of INR 9.04 crore, down from INR 91.45 crore in the same period last year. During this period, total income increased to INR 1,775.07 crore from INR 1,469.13 crore previously, reflecting steady growth in its operations.
Founded in 2017, WeWork India operates across eight cities Chennai, New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad with 73 operational centres covering 8.2 million square feet. Karan Virwani, Managing Director and CEO of WeWork India, stated that the company continues to focus on profitable growth, technology-driven differentiation, and sustainable portfolio expansion. He added that with a strong supply pipeline, a diversified enterprise client base, and improving unit economics, the company is well-positioned to maintain growth momentum and deliver long-term value to stakeholders.
During the 2024-25 fiscal, WeWork India had posted a net profit of INR 128.18 crore on revenues of INR 2,024 crore. The Bengaluru-based Embassy Group is the promoter of the company, which successfully launched its Initial Public Offering (IPO) last year and is now listed on stock exchanges.
Source PTI
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