WeWork India turns profitable on top line of Rs 800 crore in Jan-Nov

The flexible office space start-up had entered India in July 2017 through a franchise model with Bengaluru-based property developer Embassy Group

Hybrid work models have aided commercial real estate firm WeWork India to turn profitable on a top line of Rs 800 crore in the January-November period of calendar year 2021, said Chief Executive Officer (CEO) Karan Virwani. 

The turnaround was possible as the company was able to strike more asset-light deals with landlords even as businesses sought to transition into a hybrid model of work.

“Next year, we are going to expand and go back into growth mode again. The start of 2021 was strong as we leased about 700,000 square feet of space in the first quarter (January-March) whereas the entire