WeWork India's share price experienced a surge of nearly 8% on Tuesday, November 18, 2025, following the initiation of coverage by Jefferies with a "buy" rating. The brokerage firm set a target price of ₹790, suggesting a potential upside of 29% from the previous closing price. This bullish outlook is underpinned by expectations of strong demand and WeWork India's premium positioning in the rapidly expanding flexible workspace sector.
Jefferies highlights the robust growth of the flexible workspace market in India, expanding at a compound annual growth rate (CAGR) of approximately 17%. This growth rate is almost double the pace of traditional office stock, indicating a significant shift towards flexible solutions. WeWork India, as the largest flexible workspace operator in the country by revenue, is well-positioned to capitalize on this trend.
The brokerage firm anticipates WeWork India to achieve a revenue CAGR of 22% and an EBITDA CAGR of 28% between fiscal years 2025 and 2028. This projection is supported by sustained demand, the increasing adoption of hybrid work models, and efficient space monetization across its centers. WeWork India's brand strength, scale, and pricing power further enhance its ability to capture incremental demand as corporations increasingly embrace flexible workspace solutions.
In a more optimistic scenario, Jefferies suggests that quicker adoption of flexible workspaces, improved occupancy rates, and stronger average revenue per member (ARPM) growth could potentially drive WeWork India's stock price to ₹895, representing a 45% upside.
WeWork India operates approximately 70 centers across 8 major cities in India, offering a total of 114,000 desks. Bengaluru accounts for a significant portion of its capacity, with 46.1% , followed by Mumbai at 23.93%. The company focuses on providing flexible, high-quality workspaces to a diverse clientele, including large enterprises, small and mid-size businesses, startups, and individuals.
WeWork India reported revenue of ₹1,949 crore and a profit of ₹128 crore in FY25. The company's EBITDA stood at ₹1,235 crore, with a margin exceeding 63%, demonstrating strong operational profitability.
WeWork India, founded in 2017, operates under an exclusive brand licensing agreement with WeWork Global. Embassy Group holds a majority stake (76.21%) in the company, while WeWork Global owns the remaining 23.45%.
Despite the positive outlook, WeWork India faces challenges such as maintaining occupancy rates amid growing competition and managing client renewal pressures. However, the company's recent profitability, strategic investor confidence, and successful IPO position it well for sustainable growth.
