WeWork India adds 4,500 desks across two new centers

WeWork India Management Limited (WEWORK) has opened two centers adding approximately 2.25 lakh square feet and over 4,500 desks. The occupancy in its buildings is already close to 87%. The two new centers are Infinix Palladium in Whitefield, Bengaluru which's around 1.7 lakh square feet with more than 3,100 desks and Millennium Towers in Wakad, Pune, which has around 1,400 desks spread across two floors. The company has also rented 1.8 lakh square feet more in the Pune building separately. Bengaluru now has 30 centers and 51,700 desks as of Q1 FY27 making a total of 1.33 lakh desks in eight cities. The number to watch before considering this as growth is the occupancy at the new centers, not the company-wide 87% figure. WeWork India makes ₹3 in revenue for every ₹1 it pays in rent, which is a strong unit economics claim but this only works if new desks get filled at a rate similar to the existing buildings. New space added to a market with slowing office demand might stay empty longer than the model assumes. What would change my opinion is the fill rate for these two centers once it is shared in the quarterly report, not the company-wide average that includes centers that were opened years ago. My view: expansion with a believable revenue-to-rent ratio but the occupancy at the new locations will decide if this brings profit or just adds costs. I am watching the Q2 FY27 report for details, on center-level occupancy. I do not own WeWork India Management Limited at the time of writing.