| 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 | 01-04-2026 |
| Date of end of financial year | 31-03-2027 |
| Date of board meeting when results were approved | 26-10-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 28-09-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Second quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | Managed workspace provider and allied services |
| Start date and time of board meeting | 26-10-2026 19:15:00 |
| End date and time of board meeting | 26-10-2026 20:50:00 |
| 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 | Not applicable |
| 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 | 01-07-2026 | 01-04-2026 |
| B | Date of end of reporting period | 30-09-2026 | 30-09-2026 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 76,783.80 | 1,45,167.00 | |
| Other income | 1,860.10 | 3,550.90 | |
| Total income | 78,643.90 | 1,48,717.90 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 84.40 | 228.00 |
| (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 | 5,579.00 | 11,405.10 |
| (e) | Finance costs | 17,491.30 | 35,105.70 |
| (f) | Depreciation, depletion and amortisation expense | 31,424.90 | 59,702.80 |
| (f) | Other Expenses | ||
| 1 | Operating expenses | 19,453.30 | 35,777.40 |
| 2 | Other expenses | 2,377.10 | 4,668.70 |
| 3 | Sub-contracting cost | 275.70 | 275.70 |
| Total other expenses | 22,106.10 | 40,721.80 | |
| Total expenses | 76,685.70 | 1,47,163.40 | |
| 3 | Total profit before exceptional items and tax | 1,958.20 | 1,554.50 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 1,958.20 | 1,554.50 |
| 6 | Tax expense | ||
| 7 | Current tax | 11.40 | 30.90 |
| 8 | Deferred tax | (9.80) | (17.50) |
| 9 | Total tax expenses | 1.60 | 13.40 |
| 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 | 1,956.60 | 1,541.10 |
| 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 | 86.90 | 96.30 |
| 16 | Total profit (loss) for period | 2,043.50 | 1,637.40 |
| 17 | Other comprehensive income net of taxes | 28.70 | (40.40) |
| 18 | Total Comprehensive Income for the period | 2,072.20 | 1,597.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 2,028.33 | 1,597.70 | |
| Total profit or loss, attributable to non-controlling interests | 15.20 | 39.70 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 28.40 | (39.90) | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 0.30 | (0.50) | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 13,887.00 | 13,887.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 1.46 | 1.15 | |
| Diluted earnings (loss) per share from continuing operations | 1.45 | 1.14 | |
| 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 | 1.46 | 1.15 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 1.45 | 1.14 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | 3.The above unaudited consolidated financial results of WeWork India Management Limited (the Company or the Holding Company), its subsidiaries (the Company and its subsidiaries together referred to as the Group) and its associate for the quarter and six months ended September 30, 2026, is drawn in accordance with the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, which have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 26, 2026 and were subjected to review by the statutory auditors of the Holding Company. 4.These unaudited consolidated 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. 5.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 twenty-nine 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 audited consolidated financial results for the year 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. 6.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. 7.During the quarter and six months ended September 30, 2026, the Holding Company has granted 439,510 and 4,68,896 Employee Stock Options respectively to eligible employees under the Equity Plan 2018 (EIP 2018), as approved by Nomination and Remuneration Committee. 8.During the quarter and six months ended September 30, 2026, the paid-up equity share capital of the Holding Company had increased from Rs.1,385.90 million to Rs.1,388.70 million and Rs.1,353.78 million to Rs.1,388.70 million pursuant to allotment of 279,961 and 3,492,205 equity shares respectively on exercise of stock options by employees. 9.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. 10.During the year, the Holding Company has filed a scheme under section 66 read with section 52 of Companies Act, 2013, with the National Company Law Tribunal (NCLT) for reduction of share capital of the Holding Company. Pursuant to the scheme, the Holding Company shall adjust the accumulated losses of the Holding Company represented by the debit balance of Profit & Loss Account of Rs. 20,501.60 million as at March 31, 2026 presented under Retained Earnings by reducing Rs. 20,501.60 million from Securities Premium account. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | Year ended (dd-mm-yyyy) | |
|---|---|---|
| Date of start of reporting period | 01-04-2026 | |
| Date of end of reporting period | 30-09-2026 | |
| Whether results are audited or unaudited | Unaudited | |
| Nature of report standalone or consolidated | Consolidated | |
| Assets | ||
| 1 | Non-current assets | |
| Property, plant and equipment | 1,42,839.40 | |
| Capital work-in-progress | 4,510.20 | |
| Investment property | ||
| Goodwill | 222.10 | |
| Other intangible assets | 382.10 | |
| Intangible assets under development | 112.90 | |
| Biological assets other than bearer plants | ||
| Investments accounted for using equity method | 1,367.50 | |
| Non-current financial assets | ||
| Non-current investments | 448.60 | |
| Trade receivables, non-current | ||
| Loans, non-current | 0.00 | |
| Other non-current financial assets | ||
| 1 | Other financial assets | 28,966.40 |
| Total of other non-current financial assets | 28,966.40 | |
| Total non-current financial assets | 29,415.00 | |
| Deferred tax assets (net) | 30,770.60 | |
| Other non-current assets | ||
| 1 | Right-of-use assets | 4,50,309.30 |
| 2 | Income tax assets (net) | 10,533.90 |
| 3 | Other non-current assets | 1,836.90 |
| Total of other non-current assets | 4,62,680.10 | |
| Total non-current assets | 6,72,299.90 | |
| 2 | Current assets | |
| Inventories | 111.60 | |
| Current financial asset | ||
| Current investments | 37,868.30 | |
| Trade receivables, current | 6,984.60 | |
| Cash and cash equivalents | 595.40 | |
| Bank balance other than cash and cash equivalents | 577.20 | |
| Loans, current | 0.00 | |
| Other current financial assets | ||
| Total of other current financial assets | 12,089.80 | |
| Total current financial assets | 58,115.30 | |
| Current tax assets (net) | ||
| Other current assets | ||
| 1 | Other current assets | 6,455.00 |
| Total of other current assets | 6,455.00 | |
| Total current assets | 64,681.90 | |
| 3 | Non-current assets classified as held for sale | |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | |
| Total assets | 7,36,981.80 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 13,887.00 | |
| Other equity | 20,156.00 | |
| Total equity attributable to owners of parent | 34,043.00 | |
| Non controlling interest | 163.70 | |
| Total equity | 34,206.70 | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 27,458.20 | |
| Trade payables, non-current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | ||
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | ||
| Total Trade payable | ||
| Other non-current financial liabilities | ||
| 1 | Lease liabilities | 4,52,037.20 |
| 2 | Other financial liabilities | 26,260.80 |
| Total of other non-current financial liabilities | 4,78,298.00 | |
| Total non-current financial liabilities | 5,05,756.20 | |
| Provisions, non-current | 1,275.00 | |
| Deferred tax liabilities (net) | ||
| Deferred government grants, Non-current | ||
| Other non-current liabilities | ||
| 1 | Other non-current liabilities | 7,508.90 |
| Total of other non-current liabilities | 7,508.90 | |
| Total non-current liabilities | 5,14,540.10 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 11,562.30 | |
| Trade payables, current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 414.70 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 7,126.10 | |
| Total Trade payable | 7,540.80 | |
| Other current financial liabilities | ||
| 1 | Lease liabilities | 71,275.20 |
| 2 | Other current financial liabilities | 80,931.10 |
| Total of other current financial liabilities | 1,52,206.30 | |
| Total current financial liabilities | 1,71,309.40 | |
| Other current liabilities | 12,847.10 | |
| 1 | Other current liabilities | 12,847.10 |
| Total of other current liabilities | 12,847.10 | |
| Provisions, current | 4,010.50 | |
| Current tax liabilities (Net) | 68.00 | |
| Deferred government grants, Current | ||
| Total current liabilities | 1,88,235.00 | |
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | |
| Total liabilities | 7,02,775.10 | |
| Total equity and liabilites | 7,36,981.80 | |
| Disclosure of notes on assets and liabilities | ||
| 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 | 01-07-2026 | 01-04-2026 | |||||
| Date of end of reporting period | 30-09-2026 | 30-09-2026 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| 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 | Textual Information(2) | ||||||
| Textual Information(2) | The Company operates in a single reportable operating segment; therefore, information on operating segment performance and segment reconciliations under Ind AS 108 is not applicable. |
|---|
| 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 | 01-07-2026 | 01-04-2026 |
| B | Date of end of reporting period | 30-09-2026 | 30-09-2026 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| 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 | 30.20 | (39.10) |
| 2 | Share of other comprehensive income / loss of an associate | (0.40) | (0.80) |
| Total Amount of items that will not be reclassified to profit and loss | 29.80 | (39.90) | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 1.10 | 0.50 |
| 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 | 28.70 | (40.40) |
| Particulars | Year ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|
| A | Date of start of reporting period | 01-04-2026 | ||||
| B | Date of end of reporting period | 30-09-2026 | ||||
| C | Whether results are audited or unaudited | Unaudited | ||||
| D | Nature of report standalone or consolidated | Consolidated | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | 1,554.50 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 35,105.70 | |||||
| Adjustments for decrease (increase) in inventories | (28.60) | |||||
| Adjustments for decrease (increase) in trade receivables, current | 1,365.20 | |||||
| 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 | 1,149.70 | |||||
| Adjustments for other financial assets, non-current | (4,678.50) | |||||
| Adjustments for other financial assets, current | 0.00 | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | 101.00 | |||||
| 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 | 7,038.40 | |||||
| Adjustments for depreciation and amortisation expense | 59,702.80 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | 87.20 | |||||
| Adjustments for provisions, non-current | 0.00 | |||||
| Adjustments for other financial liabilities, current | 0.00 | |||||
| Adjustments for other financial liabilities, non-current | 7,619.50 | |||||
| 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 | 970.40 | |||||
| Adjustments for fair value losses (gains) | (525.40) | |||||
| 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) | (2,465.80) | |||||
| Other adjustments for non-cash items | (445.80) | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | 1,04,995.80 | |||||
| Net cash flows from (used in) operations | 1,06,550.30 | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 3,934.30 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) operating activities | 1,02,616.00 | |||||
| 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 | 319.00 | |||||
| Purchase of property, plant and equipment | 36,377.00 | |||||
| Proceeds from sales of investment property | 0.00 | |||||
| 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 | 450.90 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (19,372.00) | |||||
| Net cash flows from (used in) investing activities | (54,979.10) | |||||
| 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 | 1,717.50 | |||||
| Proceeds from issuing debentures notes bonds etc | 0.00 | |||||
| Proceeds from borrowings | 18,953.50 | |||||
| Repayments of borrowings | 13,323.60 | |||||
| Payments of lease liabilities | 0.00 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 1,852.40 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (58,801.10) | |||||
| Net cash flows from (used in) financing activities | (53,306.10) | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | (5,669.20) | |||||
| 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 | (5,669.20) | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 6,264.60 | |||||
| Cash and cash equivalents cash flow statement at end of period | 595.40 | |||||