WeWork India Management Ltd (MAINBOARD)

WeWork India IPO Reservation

Summary Profile

WeWork India is a leading flexible workspace operator in India, established in 2016. It leases high-quality (Grade A) office spaces from developers and transforms them into a variety of flexible workspace solutions for a diverse client base, from large enterprises to individual professionals. As of September 2024, it operates a significant portfolio of 6.48 million square feet across 59 centers in major Indian cities, offering over 94,000 desks.
 

Key Business Details

• Founded: 2016

• Core Business: Flexible Workspace Operator

• Primary Markets: Pune, Bengaluru, Mumbai, Chennai, Hyderabad, Noida, Gurgaon, Delhi.

• Operational Scale (as of Sept 30, 2024):

  • 59 Operational Centres

  • 6.48 Million Square Feet

  • 94,440 Desks

• Employee Count: 523 permanent staff.

Product & Service Offerings

The company provides a comprehensive range of flexible workspace solutions:

• Custom-designed buildings, floors, and offices

• Enterprise office suites

• Tailored managed offices

• Private offices

• Co-working spaces

• Hybrid digital solutions

Target Clientele

The company serves a broad spectrum of clients, including:

• Large Enterprises: (e.g., Amazon Web Services, JP Morgan, Discovery Communications)

• Small and Medium-sized Businesses (SMBs)

• Startups

• Individual Professionals

Business Model

WeWork India primarily follows an "asset-light" model:

1. Lease: It leases Grade A office space directly from property developers.

2. Operate: It designs, manages, and operates these spaces as flexible workspaces.

3. Sub-lease: It then rents out these spaces to its clients on more flexible terms.

As of June 2024, 93% of its portfolio (5.87 million sq. ft.) was Grade A space, as per CBRE, emphasizing its focus on premium properties
The information highlights five key strengths that differentiate WeWork India in the market: