India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

WeWork India has expanded its partnership with Turner International through a 46,000 sq. ft managed office at Gigaplex, Airoli. The 650+ seat facility marks Turner’s scale-up from a 16-seat setup in 2022. The deal reflects growing enterprise demand for customised, flexible workspace solutions in India.
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WeWork India has signed a lease agreement to expand its Hyderabad footprint by around 3,300 desks, backed by an estimated investment of ₹100 crore. The expansion, expected to be completed by June 2026, comes as the company reports 83.9% utilisation on its current 1,21,638-desk capacity.
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WeWork India shares climbed nearly 3% after strong Q3 FY26 results. Revenue rose 27% year-on-year to ₹640.3 crore, while profit after tax surged to ₹52 crore. Higher desk sales, improved utilisation, and expanding EBITDA margins drove robust financial and operational performance during the quarter.
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WeWork India has surpassed 1 lakh members, recording 33.6% YoY growth, driven by strong demand from enterprises and GCCs. With 76% enterprise revenue and rapid expansion across eight cities, the company says flexible workspaces have become core business infrastructure. Southern markets led momentum as GCC and tech-driven occupancies surged.
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WeWork India enters a pivotal trading session as its three-month lock-in ends, freeing 10.4 million shares—8% of its equity—for potential trade. With the stock already 5% below its IPO price, investors are watching closely. Meanwhile, CEO Karan Virwani says WeWork India is evolving from co-working to “workspace as a service.”
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ICICI Securities has initiated coverage on WeWork India Management Ltd with a ‘Buy’ rating and a target price of ₹914 per share, implying a 47% upside. The brokerage cites strong demand for premium flex workspaces, robust growth in seats, and backing from Embassy Group, while Jefferies also maintains a constructive view on the stock.
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