WeWork India Management Limited (WEWORK) reported its results for the fourth quarter and full year ended 31 March 2026, closing its first listed financial year at record highs across operational and financial metrics. The company’s Q4 FY26 revenue rose to ₹709.9 crore, up 28.6% year-over-year (YoY), and 10.9% quarter-over-quarter (QoQ). Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 42.8% YoY to ₹164.7 crore at a 23.2% margin, while profit after tax (PAT) surged 141.9% YoY to ₹79.6 crore at an 11.2% margin.

Full-Year Performance

For the full year, revenue rose to ₹2,477.4 crore (+23.4% YoY), with EBITDA at ₹499.2 crore (20.2% margin) and PAT more than doubling to ₹179 crore at a 7.2% margin (+133.7% YoY). Free cash flow from operations reached ₹585.5 crore for FY26 (+44.3% YoY), and the company closed the year in a net debt negative position for the first time at – ₹11.7 crore, compared to a net debt of ₹215.3 crore a year ago.

Operational Footprint and Growth

WeWork India closed FY26 with 8.6 million sq ft across 76 centres in 8 cities, and a total committed footprint of 11.6 million sq ft including signed leases and letters of intent (+39% YoY). Operational desk capacity stood at 126.9k desks (+15.8% YoY), with 110.2k members (+31% YoY). Portfolio occupancy reached an all-time high of 86.9% (mature centres at 88.9%), and member growth expanded nearly 2x faster than capacity additions, underscoring strong demand momentum across centres.

As a result, the company’s return on capital employed (ROCE) for FY26 stood at 28.3% (+317 bps YoY), with the Q4 exit print at 45.1% (+1,832 bps). The company also generated ₹126 crore in Free Cash Flow to Firm (FCFF), up +8.4% YoY, despite significant capex investments towards growth and expansion, demonstrating the strength of its recurring cash-generating business model and its ability to self-fund growth while maintaining healthy cash reserves.

Karan Virwani, Managing Director & CEO, WeWork India, said, “FY26 was a defining year for both the industry and WeWork India. Adoption of flex deepened across enterprise segments, and we continued to lead from the front while delivering on every commitment we made to the market. As India cements its position at the centre of the global AI and GCC economy, the need for agile, scalable and experience-led workspaces will only accelerate. We enter FY27 from the strongest opening position in our history, with deep demand visibility, strong operating leverage, and growing confidence in the long-term monetisation potential of the platform we are building.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of WeWork India Management Limited

WeWork India Management Limited belongs to the Real Estate › Real Estate Services sector. Here’s a quick read on where the business and the stock stand today.

WeWork falls 9.8% over three months and has not found a floor yet. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. Revenue grows at only 0.0% and profits at 0.0% CAGR. In effect, the business treads water. The stock holds at 27% of its 52-week range with RSI at 40. In other words, neither side has a clear edge right now. Revenue grows at 0.0% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of WeWork India Management Limited.