Business Recorder
WeWork India Management reported a 79.5% year-on-year rise in fourth-quarter profit on Thursday, driven by strong demand from enterprise clients and higher occupancy. The flexible workspace provider posted a net profit of 655.5 million rupees ($6.80 million), up from about 365.2 million rupees a year earlier. Revenue from operations rose 29% year-on-year to 6.96 billion rupees, driven by strong demand from enterprise clients. Earnings before interest, tax, depreciation and amortisation (EBITDA) margins expanded by 231 basis points to 23.2% from a year earlier. “Enterprises continued to anchor the portfolio, contributing 77% of core revenue in Q4 FY26,” the company said. Demand was further supported by expansion from existing clients, with over 50% of new desk sales during the fiscal year coming from current members, the company added. Total expenses rose 18.3%, driven by employee benefit cost, finance costs and operating expenses. WeWork also benefited from higher occupancy levels, with portfolio occupancy at a record high of 86.9%, including 88.9% at mature centres. WeWork shares were up by the exchange-allowed maximum of 20% in afternoon trade following the results announcement. The stock is down about 7.5% so far this year.
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