WeWork India CEO Karan Virwani says planning to add around 20,000 desks this fiscal

From occupancy to enterprise clients to AI adoption, CEO Karan Virwani outlines how the company is building scale without compromising profitability.

Co-working and office spaces company WeWork India has tapped the IPO market with a Rs 3,000 crore offering to fund growth and expansion, with plans to add around 20,000 desks this fiscal.

CEO Karan Virwani, in an exclusive Moneycontrol interview said the company has achieved profitability last fiscal, with 80% revenue coming from enterprise customers. Virwani shared insights on how the company plans to strengthen its position in India’s flexible workspace market, which he called a sunrise sector.

Path to Profitability

Virwani said WeWork India is now a profitable business with FY25 marking its first year of profitability. While reported accounting standards show some book losses due to tax treatment on upfront lease payment, the adjusted EBITDA margin stands at 22%, almost double the industry average of 10-12%. New centres typically reach 80-85% occupancy within 12 months, contributing to sustainable cash flows and margin expansion, said the CEO. Read More

Diversified Client Mix

The client mix of WeWork India is diversified, with 80% revenue from enterprise customers and 36% from GCCs (Global Capability Centers), including Fortune 500 companies. “We don’t have significant customer concentration risk,” Virwani said, adding that the focus remains on premium and mid-market segments catering to hybrid work preferences and scalable solutions.

Strategic City Expansion

City-wise, WeWork India mirrors the commercial demand trend, with Bengaluru, Mumbai and Gurugram forming the core, while emerging cities in the co-working space such as Hyderabad, Pune and Chennai as growth markets. The company follows a “grow deeper first” strategy, prioritising network effect and operational efficiencies over rapid geographic spread, CEO Virwani said.

Read More: WeWork India: Can the IPO ride the flexible workspace growth wave?

Premium Pricing & Margins

On pricing and margins, Virwani said WeWork India’s differentiated model and premium pricing of Rs 18,000-22,000 per desk is justified by flexibility, service quality and access to a global network of 600 locations. Lease escalations of 12-15% every three years are balanced with client lock-ins of three to five years, ensuring predictable revenue streams.

Leveraging AI & Tech-Driven Efficiency

Technology is central to WeWork’s operations, with proprietary AI and machine learning tools optimising space utilisation, dynamic pricing and site selection, said the CEO, which enables smarter decision-making and enhancing customer experience.

Capex & Growth Plans

“For FY26, WeWork India plans to add around 20,000 desks with an estimated capex of Rs 1.30-1.40 lakh per desk. This investment will be funded through internal accruals and low-cost debt, covering all setup costs from infrastructure to technology and amenities.” Virwani said. While the leasing of co-working spaces remains a fragmented business, Karan Virwani acknowledged there are selective acquisition opportunities too, but they must offer strategic growth and should be quality assets.

With a growing client base and tech-driven efficiency, WeWork India CEO said the company is aiming to leverage India’s flex workspace boom, balancing scale with profitability while offering global-standard office solutions to enterprises as well as startups.