WeWork India plans to launch a workspace solution dedicated to Global Capability Centres (GCCs) in the coming weeks, responding to accelerating demand from global firms expanding their operations in India, Karan Virwani, MD & CEO of the company told Moneycontrol in an interaction.
“In the next few weeks, we'll be announcing something a little bit more formal launch plans of a workplace solution for GCC,” Virwani said. “There’s a huge demand coming from all parts of the world. Earlier it used to be basically very large businesses, today it’s all sorts of mid sized and even small global businesses that are hiring in India.”
Virwani said GCCs now make up about 35 percent of WeWork India’s total portfolio, adding that WeWork plans to “productise this infrastructure as a service part for GCCs, where we have a model which will be entry phase, scaling phase and maturity phase.”
The move comes even as the global tech slowdown shows little sign of dampening demand from multinational corporations or Indian enterprises. He said both GCCs and large enterprises are expanding headcount and shifting to flexible workspaces.
“To be honest, we are not seeing any slowdown. Actually, we are seeing some acceleration from some of these companies,” Virwani said. “When some of this uncertainty happens, what we tend to see is, there is clearly a transition where they’re moving parts of their portfolio away from traditional long-term space towards flex and actually towards us.”
Startups, too, are returning to flex spaces as venture capital activity picks up. “Smaller businesses and startups are now starting to add headcount and seeing some of that activity come back, which really had paused for a bit.”
WeWork India reported its strongest quarter to date in Q2 FY26, swinging to profit in its Indian operations. Revenue rose 17 percent year-on-year to ₹585 crore, while EBITDA grew 45 percent quarter-on-quarter to ₹118 crore with a margin of 20 percent. The company posted a profit of ₹6.5 crore compared to a loss of ₹34 crore a year earlier, after adjusting for deferred tax credits.
Further, the company's occupancy stood at about 80 percent with 92,000 members, while mature buildings were around 84 percent. “Our growth portfolio, which is the portfolio that got added in the past 12 months, has now moved up to about 51 percent and is operationally breaking even as well,” he said. “At 55 percent centre-level occupancy, we start breaking even.”
He attributed the profitability to efficiency and scale. “Our rental cost has only grown about 1.8 percent in the last 12 months on a per square foot basis,” Virwani said. “Our OpEx cost has actually dropped 5 percent on a per square foot basis in that same period. Pricing is holding while velocity is increasing and occupancy is moving up.”
WeWork’s portfolio now spans 7.7 million square feet across 70 centres in eight cities. Bengaluru continues to dominate, while Chennai, Hyderabad, and NCR are growing fast. “We have some large back-to-back managed office customers signed up in Chennai and Hyderabad that will open by the end of the year,” Virwani said.
The company also launched the WeWork India app recently to integrate its services digitally. “We’ve seen almost some 21,000 downloads, tens of thousands of transactions, and a 4.9 rating on the App Store,” said Virwani. “It is a platform that ties our entire business together, gives access to all global locations, and helps members discover spaces and be flexible across the board.”
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