Wework India Management Ltd
Incorporated in 2016, WeWork India Management Limited is a flexible workspace operator in India.[1]
- Market Cap ₹ 8,997 Cr.
- Current Price ₹ 648
- High / Low ₹ 794 / 420
- Stock P/E 104
- Book Value ₹ 22.6
- Dividend Yield 0.00 %
- ROCE 12.6 %
- ROE 27.9 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 28.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Tax rate seems low
- Promoters have pledged 35.0% of their holding.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 57 | 302 | 691 | 640 | 784 | 1,314 | 1,662 | 1,942 | 2,432 | 2,578 | |
| 117 | 421 | 763 | 825 | 378 | 516 | 614 | 704 | 859 | 903 | |
| Operating Profit | -61 | -119 | -72 | -185 | 406 | 798 | 1,048 | 1,238 | 1,573 | 1,675 |
| OPM % | -107% | -39% | -10% | -29% | 52% | 61% | 63% | 64% | 65% | 65% |
| 2 | 2 | 18 | -8 | 52 | 108 | 72 | 28 | 45 | 52 | |
| Interest | 2 | 9 | 46 | 122 | 390 | 414 | 508 | 598 | 601 | 641 |
| Depreciation | 15 | 112 | 218 | 334 | 712 | 636 | 743 | 823 | 966 | 1,026 |
| Profit before tax | -76 | -238 | -317 | -648 | -643 | -145 | -131 | -155 | 50 | 60 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -184% | -44% | |
| -76 | -238 | -317 | -648 | -643 | -145 | -131 | 130 | 72 | 82 | |
| EPS in Rs | -270.64 | -848.21 | -1,133.61 | -2,314.86 | -83.83 | -18.84 | -17.05 | 9.74 | 5.33 | 6.09 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 23% |
| TTM: | 27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 36% |
| TTM: | -54% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 3% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 28% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 55 | 55 | 197 | 134 | 135 |
| Reserves | -84 | -321 | -605 | -1,239 | -210 | -346 | -628 | 75 | 170 |
| 350 | 1,023 | 1,550 | 2,250 | 292 | 481 | 625 | 4,272 | 5,550 | |
| 154 | 486 | 742 | 628 | 3,835 | 4,219 | 4,291 | 914 | 1,240 | |
| Total Liabilities | 423 | 1,190 | 1,689 | 1,642 | 3,972 | 4,410 | 4,485 | 5,395 | 7,095 |
| 268 | 759 | 1,079 | 823 | 3,314 | 3,569 | 3,594 | 4,309 | 5,774 | |
| CWIP | 37 | 35 | 7 | 0 | 1 | 13 | 15 | 34 | 38 |
| Investments | 1 | 1 | 105 | 86 | 0 | 62 | 189 | 61 | 283 |
| 117 | 394 | 497 | 733 | 657 | 767 | 687 | 991 | 999 | |
| Total Assets | 423 | 1,190 | 1,689 | 1,642 | 3,972 | 4,410 | 4,485 | 5,395 | 7,095 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| -165 | 416 | 942 | 1,165 | 1,293 | 1,731 | ||||
| -295 | -6 | -387 | -417 | -309 | -642 | ||||
| 532 | -602 | -534 | -777 | -984 | -1,048 | ||||
| Net Cash Flow | 72 | -192 | 21 | -29 | -0 | 41 | |||
| Free Cash Flow | -372 | 416 | 709 | 921 | 836 | 1,134 | |||
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 94% | 103% | 122% | 108% | 105% | 111% |
Ratios
Standalone / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 27 | 11 | 8 | 25 | 30 | 19 | 17 | 15 | 12 |
| Inventory Days | |||||||||
| Days Payable | |||||||||
| Cash Conversion Cycle | 27 | 11 | 8 | 25 | 30 | 19 | 17 | 15 | 12 |
| Working Capital Days | -536 | -296 | -239 | -138 | -226 | -215 | -207 | -186 | -227 |
| ROCE % | -47% | -33% | -51% | -44% | 164% | 196% | 21% | 13% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Net Promoter Score (NPS) Score |
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| Number of Members Members |
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| Number of Operational Centers Number |
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| Operational Desk Capacity Desks |
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| Operational Leasable Area MSF |
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| Portfolio Occupancy % |
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| Renewal Rate % |
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| Sales Velocity (Desks Sold) Desks |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- WeWork India schedules Q2 FY27 earnings call on October 27, 2026 at 10:00 a.m. IST.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Capacity Addition
- Entered Pune Leave & License for 1,60,744 sq ft; 2,881 desks added by July 2027, costing ₹44 crore.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Regulation 74(5) certificate filed for quarter ended September 30, 2026; no demat or remat requests received.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- WeWork India opened centres in Whitefield and Wakad on Oct. 5, adding 2.25 lakh sq. ft. and 4,500+ desks.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
- Received GST show-cause notice for ₹11.01 crore ITC demand for April 2021–March 2023.
Concalls
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Jul 2026Transcript PPT REC
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Jun 2026PPT
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript
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Nov 2025Transcript PPT REC
Business Profile:[1][2]
WeWork India Management, majority owned and promoted by Embassy Group, is India’s leading premium flexible workspace operator. As of Mar'26, network comprised 76 centres, 8.6 MSF operational area, 126.9k desks and 110.2k members across 8 Tier-1 cities. The company is the exclusive licensee of the WeWork brand in India, enabling access to a globally recognized name in flexible workspaces.