Shares of WeWork India fell nearly 10% intraday after the coworking firm reported a consolidated net loss of ₹4.1 crore in Q1 FY27, compared to a loss of ₹14.2 crore a year earlier, according to inc42.com. Despite the loss, revenue from operations rose 28% year-on-year to ₹683.8 crore, while the stock was trading 5.4% lower at ₹688.75, valuing the company at ₹9,545.4 crore ($990.6 million).
WeWork India attributed the net loss to its transition to Indian Accounting Standards (Ind-AS), noting that under IGAAP it posted a net profit of ₹53.2 crore for the quarter. Total expenses increased 26% to ₹704.7 crore as the company accelerated investments to expand capacity. CEO Karan Virwani highlighted strong operating momentum, with the company recording its highest-ever monthly sales in April, selling about 7,500 desks, and quarterly seat sales jumping 88% year-on-year to 12,700.
The company’s occupancy rate improved to 84.9%, with more than half of new sales coming from existing customers expanding within the network. Renewal rates stood at 84%, underscoring customer retention. Despite a 2% sequential revenue decline, WeWork India’s growth in sales and occupancy reflects resilience in the coworking sector amid ongoing market challenges. The company ended the quarter with 79 centres across India.
WeWork India’s market capitalization stood at approximately ₹9,545.4 crore ($990.6 million) at midday trading, with the stock remaining up nearly 13% year-to-date despite recent declines, according to inc42.com.