Integrated Filing — IndAS



General information about company

Scrip Code 544570
NSE Symbol WEWORK
MSEI Symbol NOTLISTED
ISIN INE085001019
Name of company WeWork India Management Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 21-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 11-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Single segment
Start date and time of board meeting 21-05-2026   12:00:00
End date and time of board meeting 21-05-2026   13:03:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 69,606.30 2,44,018.00
Other income 1,929.30 5,024.80
Total income 71,535.60 2,49,042.80
2 Expenses
(a) Cost of materials consumed 130.30 263.30
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 5,103.70 19,846.70
(e) Finance costs 15,927.80 60,125.80
(f) Depreciation, depletion and amortisation expense 26,714.60 96,746.20
(f) Other Expenses
1 Sub-contracting cost 1,003.80 2,192.80
2 Operating expenses 15,123.70 55,300.30
3 Other Expenses 3,227.00 9,059.20
Total other expenses 19,354.50 66,552.30
Total expenses 67,230.90 2,43,534.30
3 Total profit before exceptional items and tax 4,304.70 5,508.50
4 Exceptional items 0.00 (432.60)
5 Total profit before tax 4,304.70 5,075.90
6 Tax expense
7 Current tax 24.50 37.10
8 Deferred tax (2,210.90) (2,239.20)
9 Total tax expenses (2,186.40) (2,202.10)
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 6,491.10 7,278.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 95.90 213.80
16 Total profit (loss) for period 6,587.00 7,491.80
17 Other comprehensive income net of taxes 17.50 (50.70)
18 Total Comprehensive Income for the period 6,604.50 7,441.10
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 6,555.10 7,443.30
Total profit or loss, attributable to non-controlling interests 31.90 48.50
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 17.80 (50.60)
Total comprehensive income for the period attributable to owners of parent non-controlling interests (0.30) (0.10)
21 Details of equity share capital
Paid-up equity share capital 13,537.80 13,537.80
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 0.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.88 5.55
Diluted earnings (loss) per share from continuing operations 4.76 5.4
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.88 5.55
Diluted earnings (loss) per share from continuing and discontinued operations 4.76 5.4
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1.The above consolidated audited financial results of WeWork India Management Limited (the Company or the Holding Company) and its subsidiaries (the Company and its subsidiaries together referred to as the Group) and its associate for the quarter and year ended March 31, 2026, is drawn in accordance with the Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, which was reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 21, 2026 and were subjected to audit by the statutory auditors of the Holding Company. 2.These consolidated audited financial results has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 3.During the year ended March 31, 2025, the Holding Company has prepaid outstanding Non-Convertible Debentures before the term of the Debentures. On prepayment of Debentures, the differential value between the books and the amount prepaid amounting to Rs. 459.06 million is accounted through the consolidated statement of profit and loss. The Group has considered such expense as exceptional item and disclosed separately in the consolidated statement of profit and loss. 4.On November 21, 2025, the Government of India has notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (Labour Codes), which consolidate twentynine existing labour laws. The Ministry of Labour and Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Group has assessed the financial implications of these changes which has resulted in estimated one time increase in provision for employee benefits of the Group amounting to Rs. 43.26 million and the same has been recognized as an exceptional item in the Statement of unaudited consolidated financial results for the period ended March 31, 2026. The Government of India is in the process of notifying related rules to the Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified. 5.During the year ended March 31, 2026: The Company has completed its Initial Public Offering (IPO) comprising offer for sale of 46,296,296 equity shares of face value of Rs. 10 each aggregating to Rs. 29,996.43 million (which comprises of 59,523 number of equity shares offered to employees at premium of Rs. 578 per equity share and balance 46,236,773 number of equity shares offered at premium of Rs. 638 per equity share). The total proceeds on account of offer for sale is Rs. 29,996.43 million. The Company's equity shares were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on October 10, 2025. 6.During the quarter and year ended March 31, 2026, the Holding Company has granted Nil and 575,561 Employee Stock Options respectively to eligible employees under the Employee Stock Option Plan 2018 (ESOP 2018), as approved by Nomination and Remuneration Committee. 7.During the quarter and year ended March 31, 2026, the paid-up equity share capital of the Holding Company had increased from Rs.1,340.23 Million to Rs.1,353.78 Million pursuant to allotment of 1,354,749 equity shares on exercise of stock options by employees. 8.The Group is primarily engaged in the business of managed workspace provider and provision for allied services which falls within a single reportable segment as the Board of Directors being the Chief Operating Decision Maker (‘CODM’) of the Holding Company views the entire business activities as managed workspace provider. Accordingly, there are no additional disclosures to be furnished in accordance with the requirements of Ind AS 108- Operating Segments with respect to single reportable segment. Further, the operations of the Group are domiciled in India and therefore there are no reportable geographical segment. The Group does not have any single external customer contributing to 10% or more of the Group's revenue. 9.Further, the figures for the quarters ended March 31, 2026 and March 31, 2025 are the derived balancing figures between audited figures in respect of full financial year ended March 31, 2026 and March 31, 2025 respectively and the unaudited figures of nine months ended December 31, 2025 and December 31, 2024 respectively. The unaudited financial results for the nine months ended December 31, 2024 have been approved by the Board of Directors but have not been subjected to review or audit by the statutory auditors.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,17,651.20
Capital work-in-progress 3,812.40
Investment property 0.00
Goodwill 222.10
Other intangible assets 400.10
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method 1,272.00
Non-current financial assets
Non-current investments 448.30
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other non-current financial assets 26,852.60
Total of other non-current financial assets 26,852.60
Total non-current financial assets 27,300.90
Deferred tax assets (net) 30,753.60
Other non-current assets
1 Right-of-use assets 4,59,390.40
2 Income tax assets (net) 6,599.10
3 Other non-current assets 2,608.00
Total of other non-current assets 4,68,597.50
Total non-current assets 6,50,009.80
2 Current assets
Inventories 83.00
Current financial asset
Current investments 25,111.00
Trade receivables, current 8,461.70
Cash and cash equivalents 6,264.60
Bank balance other than cash and cash equivalents 471.30
Loans, current 0.00
Other current financial assets
Total of other current financial assets 11,209.90
Total current financial assets 51,518.50
Current tax assets (net)
Other current assets
1 Other current assets 7,604.70
Total of other current assets 7,604.70
Total current assets 59,206.20
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 7,09,216.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 13,537.80
Other equity 16,259.10
Total equity attributable to owners of parent 29,796.90
Non controlling interest 124.50
Total equity 29,921.40
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 23,569.90
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease liabilities 4,56,722.10
2 Other financial liabilities 16,231.20
Total of other non-current financial liabilities 4,72,953.30
Total non-current financial liabilities 4,96,523.20
Provisions, non-current 1,277.80
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
1 Other non-current liabilities 2,706.90
Total of other non-current liabilities 2,706.90
Total non-current liabilities 5,00,507.90
Current liabilities
Current financial liabilities
Borrowings, current 9,706.80
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 521.50
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 6,945.30
Total Trade payable 7,466.80
Other current financial liabilities
1 Lease liabilities 65,031.00
2 Other current financial liabilities 82,120.30
Total of other current financial liabilities 1,47,151.30
Total current financial liabilities 1,64,324.90
Other current liabilities 10,610.70
1 Other current liabilities 10,610.70
Total of other current liabilities 10,610.70
Provisions, current 3,814.00
Current tax liabilities (Net) 37.10
Deferred government grants, Current 0.00
Total current liabilities 1,78,786.70
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 6,79,294.60
Total equity and liabilites 7,09,216.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement (loss) / gain on defined benefit plans 2.50 (58.30)
2 Share of other comprehensive income / loss of an associate 0.20 (7.10)
Total Amount of items that will not be reclassified to profit and loss 2.70 (65.40)
2 Income tax relating to items that will not be reclassified to profit or loss (14.80) (14.70)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 17.50 (50.70)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 5,075.90
Adjustments for reconcile profit (loss)
Adjustments for finance costs 60,125.80
Adjustments for decrease (increase) in inventories (16.70)
Adjustments for decrease (increase) in trade receivables, current (489.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 318.90
Adjustments for other financial assets, non-current (12,036.40)
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 2,256.50
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 3,816.00
Adjustments for depreciation and amortisation expense 96,746.20
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 541.50
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 20,450.30
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
Adjustments for share-based payments 1,743.10
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (4,171.80)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 1,69,284.40
Net cash flows from (used in) operations 1,74,360.30
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 947.10
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,73,413.20
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 45,644.00
Proceeds from sales of investment property 25.50
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 389.50
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (19,495.10)
Net cash flows from (used in) investing activities (64,724.10)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 13,678.50
Repayments of borrowings 11,610.20
Payments of lease liabilities 1,03,644.00
Dividends paid 0.00
Interest paid 3,895.60
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 691.30
Net cash flows from (used in) financing activities (1,04,780.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 3,909.10
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 3,909.10
Cash and cash equivalents cash flow statement at beginning of period 2,355.50
Cash and cash equivalents cash flow statement at end of period 6,264.60





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 S. R. Batliboi & Associates LLP Yes 31-07-2027