Mumbai– WeWork India on Monday reported a steep 96 percent year-on-year decline in consolidated profit after tax (PAT) for the second quarter of FY26, coming in at Rs 6.4 crore compared to Rs 203.7 crore in the same quarter last year. The company said the previous year’s profit was boosted by a deferred tax credit, making the YoY comparison uneven.
Despite the sharp drop in profit, revenue from operations grew 22.4 percent to Rs 574.7 crore from Rs 469.5 crore in Q2 FY25, according to a regulatory filing. The increase in revenue suggests continued demand for premium flexible workspace, though higher operating expenses and other financial impacts weighed on profit.
Total expenses rose to Rs 579 crore, up nearly 9 percent from Rs 530.3 crore a year earlier.
“Our Q2 results mark a defining moment in WeWork India’s journey. With record revenue, expanding margins, and our first Ind-AS PAT-positive quarter, we’ve shown that flexibility and profitability can coexist at scale,” said Karan Virwani, CEO and Managing Director.
He added that improvements in operating leverage drove strong quarter-on-quarter gains, noting that IGAAP EBITDA rose 45 percent QoQ, and return on capital employed (ROCE) strengthened to 22.2 percent.
“We are evolving beyond physical spaces into a full-stack ecosystem of workspace solutions, services, and technology. We’re not just growing faster; we’re growing smarter, driving record revenues and expanding margins while delivering long-term value,” Virwani said.
The company also disclosed that it granted 561,324 employee stock options during the quarter and a total of 575,561 stock options over the six months ended September 30, 2025, under its ESOP 2018 plan.
Shares of WeWork India were trading lower during Monday’s session, pressured by the muted profit performance. Around 3:14 p.m., the stock was down 0.89 percent at Rs 626.30.
