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WeWork India Management Limited recently held its Q4 FY26 Earnings Conference Call.
**Financial Performance:**
Full-year revenue stood at ₹2,477 Cr, up 23%, with EBITDA at ₹499 Cr, also up 23%. Profit After Tax (PAT) more than doubled to ₹180 Cr, a 134% increase. Portfolio occupancy reached an all-time high of 86.9%. Q4 FY26 saw revenue of ₹710 Cr, up 29% YoY, with EBITDA at ₹164.7 Cr and PAT at ₹80 Cr. The company ended the fiscal year net debt negative.
**Management Commentary & Outlook:**
Management highlighted FY26 as their strongest year, driven by record occupancy and profitability. They emphasized the structural shift in office leasing, with flex spaces becoming mainstream and AI adoption fueling significant job growth and office demand. India's cost advantages and young demographic are key long-term drivers. WeWork India is well-positioned to capture this evolving demand.
**Order Book & Operational Updates:**
The company has secured ₹1,885 Cr in core revenue for FY27. They sold ~48,000 desks in FY26, a 20% increase YoY. Over 36% capacity growth is already locked in for FY27. The "Rivet" design and build business was launched to serve enterprises, landlords, and developers.
**Analyst Q&A Highlights:**
Discussions covered guidance for new builds and revenue, expected capex for the coming year (₹500-600 Cr), and the growth of the design and build segment. Management reiterated their commitment to over 20% YoY revenue growth and detailed the ramp-up strategy for new capacity, noting that managed office spaces will open at 100% occupancy.
**Strategic Themes & Sentiment:**
Management expressed confidence in capturing market opportunities driven by AI, GCC build-outs, and the flight to quality. The tone was positive, emphasizing the platform's adaptability and future-readiness.