Wework India Management Limited · NSE:WEWORK
Wework India Management — Q2 FY26 Earnings Presentation
37 slides from Wework India Management's earnings presentation, Nov 10, 2025
Slide 1: Exchange filing cover letter
WEWORK INDIA MANAGEMENT LIMITED (Formerly known as WeWork India Management Private Limited) Regd. Office: 6th Floor, Prestige Central, 36 Infantry Road Shivaji Nagar Bengaluru, Karnataka, 560001 Email: cswwi@wework.co.in; Website: https://wework.co.in/ Telephone no.: 080-37880881 CIN: U74999KA2016PL
Slide 2: Investor Presentation Q2 FY26
Investor Presentation Q2 FY26 | November 2025 © 2025 WeWork India. Proprietary & Confidential. WeWork Enam Sambhav, BKC, Mumbai © 2025 WeWork India. Proprietary & Confidential.
Slide 3: Disclaimer
Disclaimer You must read the following before continuing. You agree to be bound by the following limitations and restrictions by reading these materials or by attending the meeting/ call where this document is presented, the oral presentation of the information in this document made for and on behal
Slide 4: From the CEO's desk
From the CEO’s desk October 10th, 2025, will always be remembered as the day WeWork India became a publicly listed company, a testament to our resilience, belief, and commitment to transforming how India works. A strong economy, rapid urbanisation , and large - scale infrastructure growth are turnin
Slide 5: Contents
Contents 01. Quarterly highlights 02. Industry 03. Key performance metrics 04. Other highlights 05. Annexure © 2025 WeWork India. Proprietary & Confidential. © 2025 WeWork India. Proprietary & Confidential.
Slide 6: Quarterly Highlights
Quarterly Highlights © 2025 WeWork India. Proprietary & Confidential. © 2025 WeWork India. Proprietary & Confidential.
Slide 7: Leadership in India's Flex Industry with sustainable growth and momentum
Leadership in India’s Flex Industry with sustainable growth and momentum 7.7 | 10 MSF 114.5K 91.8K | 80.2% Operational Area | Total Area 1 Operational Desk Capacity Occupancy +0.8% | +8.0% QoQ +0.5k | +0.4% QoQ +4.6k |+5.2% QoQ +19.2% | + 29.9% YoY +20.0k 2 | +21.3% YoY +18k |+24.5% YoY +75 70 Centr
Slide 8: A record-breaking quarter driven by established profitability
A record -breaking quarter driven by established profitability 585.5 Crs 390.9 Crs | 66.8% 6.4 Crs | 1.1% First Highest Total Revenue Ind AS EBITDA Ind AS PAT Ind AS quarterly Profit revenue +7.3% QoQ +12.9% QoQ + 20.5 crs QoQ Quarter 1 +17.2% YoY +18.9% YoY + 37.9 crs YoY 2.9x 118.4 Crs | 20.3% 39.
Slide 9: Delivered record profitability on the back of strong demand
Delivered record profitability on the back of strong demand 1 Highest - ever quarterly revenue, reflecting strong 2 Recorded highest QoQ EBITDA Growth of 45% demand and pricing discipline Total Revenue in ₹ Crs 21.1% 20.3% 15.0% +7.3% QoQ IGAAP EBITDA in ₹ Crs + 45.0 % QoQ +17.2% YoY IGAAP EBITDA Ma
Slide 10: Industry
Industry © 2025 WeWork India. Proprietary & Confidential. © 2025 WeWork India. Proprietary & Confidential.
Slide 11: Market opportunity and demand drivers
Market opportunity and demand drivers 1 The next decade belongs to India — and to the companies Tier 1 Flex Stock powering its work 12- 14% 11- 13% 10- 12% Flex is now the 9- 11% • Youngest and the largest population second - largest 7- 9% • 2 nd largest English - speaking population driver of India
Slide 12: Key performance metrics
Key performance metrics © 2025 WeWork India. Proprietary & Confidential. © 2025 WeWork India. Proprietary & Confidential.
Slide 13: Delivering sustained growth at par with the industry
Delivering sustained growth at par with the industry Portfolio Level: Operational Capacity, Occupied Members & Occupancy % 78.1% 76.5% 80.2% +0.4% QoQ Capacity +21.3% YoY +5.2% QoQ Members 73.8 94.4 87.2 114.1 91.8 114.5 +24.5% YoY Sep-24 Jun-25 Sep-25 Occupied Members in 000s Operational Capacity i
Slide 14: Record desks sales while maintaining strong Revenue-to-Rent multiples
Record desks sales while maintaining strong Revenue -to-Rent multiples Demonstrated ability to charge premium pricing Sales Velocity 3.0x 26.6k Desks sold - Highest half yearly sales till date 2.9x 2.9 Desks Sold in 000s 1.1 2.7x Desks Sold Area in MSF 2.6x 2.6x 0.8 0.7 Highest quarterly 2.2x desk s
Slide 15: Robust growth driven by diversified revenue streams
Robust growth driven by diversified revenue streams Q2‘FY26 Revenue (₹ in Cr) Contribution 535.3 574.7 Revenue from 469.5 +7.4% QoQ Operations +22.4% YoY 100% Q2'FY25 Q1'FY26 Q2'FY26 Core Operations 461.6 492.1 398.7 +6.6% QoQ Workspace as a service, 85.6% redefining workspace leasing. +23.4% YoY Pr
Slide 16: Leveraging scale and efficiency to achieve industry-leading centre-level margins
Leveraging scale and efficiency to achieve industry -leading centre -level margins Centre Level EBITDA 1 & Margin Effectively managing fixed and variable costs Centre - level EBITDA in ₹ Crs Centre-level EBITDA Margin 27.0% 27.30% +420 bps QoQ Rent costs increased minimally Rent by ~1.8% YoY per sq.
Slide 17: Consistently delivering high EBITDA and margins
Consistently delivering high EBITDA and margins… Reported Ind AS EBITDA & Margin IGAAP Equivalent EBITDA & Margin Ind AS EBITDA in ₹ Crs Ind AS EBITDA Margin % IGAAP EBITDA in ₹ Crs IGAAP EBITDA Margin % 65.8% 66.8% 21.1% 63.4% 20.3% 15.0% 329 346 391 102 82 118 Q2 FY'25 Q1 FY'26 Q2 FY'26 Q2 FY'25 Q
Slide 18: Sustained profitability at PAT level
…along with sustained profitability at PAT level Reported Ind AS PAT & Margin IGAAP Equivalent PAT & Margin Ind AS PAT in ₹ Crs Ind AS PAT Margin % IGAAP EBITDA in ₹ Crs IGAAP EBITDA Margin % 1.1% 6.4 - 31.5 - 14.1 6.7% - 2.6% 4.0% 1.5% - 6.3% 19.3 8.4 39.3 Q2'FY25* Q1'FY26 Q2'FY26 Q2 FY'25 Q1 FY'26
Slide 19: Self-sustaining business with efficient capital deployment and strong returns
Self -sustaining business with efficient capital deployment and strong returns Free Cash Flow Return on Capital Employed Free Cash flow in ₹ Cr Q2'FY26 Q1'FY26 Q2'FY25 Reported Cash Flow from Operations 375.2 322.7 338.0 Less: Cash Outflow for lease liabilities towards rent* 245.6 237.9 191.2 Actual
Slide 20: Diversified client profile with growing commitment terms
Diversified client profile with growing commitment terms Revenue from Core Operations - By Member Type Revenue from Core Operations - By Domicile 26.6% 24.2% Fortune 500 38.1% Non - Enterprise Members Members 2 61.9% Q2 FY’26 Q2 FY’26 73% Enterprise Domestic 14.9% Members 1 International 34.2% Large
Slide 21: Deepening our presence across top cities
Deepening our presence across top 8 cities Operational Leasable Area in million square feet WeWork stock in India’s Key Growth Corridors Operational Desks Capacity in all Centres in thousands Delhi 0.1 MSF | 0.8k Desks - Gurgaon Noida 1.0 MSF | 12.7k Desks 0.3 MSF | 3.9k Desks +18.6% YoY +0.1% YoY M
Slide 22: Other highlights
Other highlights © 2025 WeWork India. Proprietary & Confidential. © 2025 WeWork India. Proprietary & Confidential.
Slide 23: Building excellence through technology, impact, and culture
Building excellence through technology, impact, and culture We are Great Place To Work® certified, We have multiple ISO Certifications & Awards across the following categories • Great Mid - size Workplaces • ISO 14001: Certified at a portfolio level for Environment management practices • Best Workpl
Slide 24: Building excellence through technology, impact, and culture
Building excellence through technology, impact, and culture We hosted our 3rd Sustainability Summit in Gurgaon We launched the WeWork India App on Oct 6th, focusing on " Decarbonising commercial real estate” bringing cardless access to our members • Fireside chat with actor - entrepreneur Bhumi Sati
Slide 25: Our Impact Projects
Our Impact Projects Tarahunise Village Lake Restoration Project Waste management centre Through our ongoing Tarahunise Village Lake Restoration Project (since 2022), we’ve In the same village, since 2023 we have supported the operations of the Solid Waste brought life back to the lake. Biodiversity
Slide 26: Our Impact Projects
Our Impact Projects Living with Leopards Colours of Life Academy Our partnership with the Wildlife Conservation Society (since 2023) continues to In partnership with the Colours of Life Academy (since 2024), we’ve supported access to mitigate human –leopard conflict at the Sanjay Gandhi National Par
Slide 27: Our spaces
Our spaces WeWork Eldeco Centre, Delhi WeWork DLF 10, Chennai WeWork Embassy Quest, Bengaluru WeWork RMZ Spire, Hyderabad WeWork Vaswani Chambers, Mumbai WeWork Amanora crest, Pune 26 | © 2025 WeWork India. Proprietary & Confidential.
Slide 28: Annexure
Annexure © 2025 WeWork India. Proprietary & Confidential. © 2025 WeWork India. Proprietary & Confidential.
Slide 29: Our board of directors
Our board of directors Jitendra Mohandas Virwani is the Chairman and Non - executive Director of our Board . He is a fellow of the Royal Institution of Chartered Surveyors . Mr. Jitendra Mohandas Virwani He is the chairman and managing director of the Embassy group of companies, including Embassy Pr
Slide 30: Led by experienced leadership and management team
Led by experienced leadership and management team Karan Virwani Managing Director & Chief Executive Officer Clifford Vinayak Arnav Debosmita Hiranmai Priti Raghuvinder S. Rupesh Santosh Udayan Lobo Parameswaran Gusain Majumdar Rallabandi Shetty Pathania Kumar Martin Shukla Chief Financial Chief Inve
Slide 31: Reported Financial Performance | Ind AS to IGAAP equivalent reconciliation
Reported Financial Performance | Ind AS to IGAAP equivalent reconciliation All amounts in ₹ Crs Q2 FY26 Q1 FY26 Q2 FY25 Particulars Reported Ind AS IGAAP Reported Ind AS IGAAP Reported Ind AS IGAAP Ind AS adjustment Equivalent Ind AS adjustment Equivalent Ind AS adjustment Equivalent Revenue from op
Slide 32: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities As at September 30, As at September 30, Particulars (INR Mn) As at March 31, 2025 Particulars (INR Mn) As at March 31, 2025 2025 2025 Equity share capital 134.0 134.0 Assets Instruments entirely in the nature of equity - Non - current assets Other equ
Slide 33: Consolidated Statement of Profit & Loss
Consolidated Statement of Profit & Loss For the three months period For the three months period For the three months period Particulars (INR Mn) ended September 30, 2025 ended June 30, 2025 ended September 30, 2024 Income Revenue from operations 574.7 535.3 469.5 Other income 0.5 0.6 18.3 Finance in
Slide 34: Consolidated Statement Cash Flow
Consolidated Statement Cash Flow For the six months For the six months For the six months For the six months Particulars (INR Mn) period ended period ended Particulars (INR Mn) period ended period ended September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Cash Flow from operat
Slide 35: Glossary
Glossary Term Definition Desk A notional work unit created to serve as the key unit of measurement of the inventory created and sold by us in a Centre Centres refer to any facility (floor, building,) with or without shared amenities or services for which lease or operating agreement has been execute
Slide 36: Glossary
Glossary Term Definition Mature Centre Operational Centres which have been operational for more than 12 months Growth Centre Operational Centres which are operational for less than or equal to 12 months A measure of monetization efficiency that indicates how much revenue we generate for every rupee
Slide 37: Contact
Contact: Mr. Vinayak Parameswaran, Chief Investment Officer investor.relations@wework.co.in Mr. Udayan Shukla, Company Secretary & Compliance Officer cswwi@wework.co.in | +918884564500 | wework.co.in © 2025 WeWork India. Proprietary & Confidential. © 2024 WeWork India. Proprietary & Confidential.
WeWork India Management — Q2 FY26 Earnings Presentation on 6ix