WeWork India has made a remarkable turnaround, posting a profit of ₹174.13 crore in the first half of FY25 as demand for premium flexible workspaces continues to surge. The company’s total income stood at ₹960.76 crore during this period, according to its Draft Red Herring Prospectus (DRHP) filed with SEBI. This starkly contrasts with FY24, when WeWork India reported a net loss of ₹135.83 crore on total revenue of ₹1,737.16 crore.

The company, which is gearing up for an IPO, has proposed an Offer for Sale (OFS) of 4.37 crore equity shares, meaning no fresh capital will be raised. Promoter Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) will sell shares. “Our company expects that listing the equity shares will enhance our visibility and brand and provide liquidity to existing shareholders,” the DRHP stated.

WeWork India, a subsidiary of Bengaluru-based Embassy Group, holds the exclusive license for the WeWork brand in India. The Embassy Group owns 76.21% of the company, while WeWork Global holds 23.45%. The firm has been actively working on strengthening its balance sheet, having raised ₹500 crore through a rights issue last month to reduce debt and fuel further growth. Currently, its net debt stands at ₹316.95 crore as of January 15, 2024.

With 77 lakh square feet of workspace, of which 70 lakh square feet is operational, WeWork India boasts an operational desk capacity of 1.03 lakh across major cities like Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. The company’s focus on Grade A office spaces and high-quality design has made it a preferred choice for enterprises and individuals.

The profitability milestone and IPO plans highlight WeWork India’s resilience in the rapidly evolving flexible workspace market. The upcoming public listing is expected to boost its brand recognition, positioning it as a strong player in India’s commercial real estate sector.