WeWork reported a consolidated net loss of ₹4.2 Cr and operating revenue of ₹683.8 Cr in Q1

The company slipped back into losses after three consecutive quarters of profitability

In its statement, WeWork India claimed that its net profit for the quarter surged 533.3% to ₹53.2 Cr, as per IGAAP-equivalent basis

Coworking giant WeWork India slipped into the red in the first quarter (Q1) of fiscal year 2026-27 (FY27), reporting a consolidated net loss of ₹4.1 Cr during the period. However, the company managed to reduce its loss by 71% from ₹14.2 Cr incurred in the year ago quarter.

The coworking major attributed the loss to its transition to Ind-AS (Indian accounting standards) during the quarter. In a statement, WeWork claimed that its net profit stood at ₹53.2 Cr in Q1 FY27, as per IGAAP-equivalent basis.

Operating revenue rose 28% to ₹683.8 Cr from ₹535.3 Cr in Q1 FY26. However, the company’s top line shrunk by 2% sequentially from ₹696.1 Cr in Q4 FY26.

Including finance and other income of ₹16.9 Cr, WeWork’s total revenue for Q1 amounted to ₹700.7 Cr.

Meanwhile, EBITDA rose significantly to ₹454.8 Cr in Q1 FY27, up 31% YoY and 176% QoQ. However, the company claimed that its EBITDA grew 69.3% YoY to ₹138.3 Cr, while EBITDA margins remained “resilient” at 19.8%.

Amid all this, expenses continued to bite and rose sharply by 26% to ₹704.7 Cr during the quarter as against ₹559.5 Cr in Q1 FY26.

“The demand signals we saw through FY26 gave us the confidence to begin investing ahead of demand, and Q1 marked the start of that next growth cycle. While these investments naturally moderate near-term sequential comparisons, they strengthen our ability to support long-term customer demand across our network,” said WeWork MD and CEO Karan Virwani.

These growth investments in question entail the addition of 28,000 desks over the course of FY27 to meet growing enterprise demand in the long term.

On the operational front, WeWork claims to have added nearly 7,000 desks in Q1 FY27, resulting in its operational desk capacity growing 17% YoY to over 1.3 Lakh desks.

During the quarter, the company also expanded its footprint to 79 centres across eight cities, hosting 9.1 Mn sq ft of operational area. Occupancy across its portfolio stood at 84.9%. Its customer count also grew by nearly 30% YoY to 1.1 Lakh.

Shares of WeWork closed today’s session 7.3% higher at ₹728.10.