Page 2 - Wework India

WeWork India makes its first investment in Bengaluru-based Zoapi

Flexible workspace provider WeWork India on Thursday made its first investment in the country, in Bengaluru-based conferencing and collaboration platform Zoapi for an undisclosed sum.

WeWork India takes on lease 362,000 sq ft office space in Bengaluru

Co-working major WeWork India on Thursday said it has taken on lease 3.62 lakh square feet office space in Bengaluru as part of its expansion plan amid rising demand for flexible workspace. In 2017, WeWork Global had partnered with Bengaluru-based Embassy Group to enter the Indian market. WeWork India currently has over 5 million square feet of portfolio across 40 locations in Delhi-NCR, Mumbai, Bengaluru, Pune and Hyderabad. In a statement, WeWork India said it has taken on lease 3.1 lakh square feet at 'Kalyani Roshni Tech Hub' and 52,000 square feet at 'Embassy One'. Set to open in December this year, Kalyani Roshni Tech Hub is located at Outer Ring Road and houses over 5,000 desks spread over eight floors. Embassy One building is strategically located between two key business districts on Bellary Road with a capacity of over 600 desks across two floors. WeWork India has entered into an operator model at Embassy One. On the other hand, Kalyani Roshni Tech Hub has been leased in

WeWork India opens 2 coworking centres in Pune, Bengaluru with 2,000 desks

The workspace at WTC Pune spans over 55,000 square feet while Embassy Sunriver in Bengaluru is spread over 61,000 square feet, WeWork India said in a statement

WeWork takes 660,000 sq ft office space on lease in Noida to expand biz

We have given an entire office tower comprising 660,000 square feet, on 15 years lease to WeWork India, says Bhutani group CEO Ashish Bhutani

WeWork India eyes 33% revenue growth in CY22 at Rs 1,000 cr on demand spike

Coworking major WeWork India is expecting 33 per cent growth in revenue during this calendar year at around Rs 1,000 crore, on the back of rising demand for flexible workspaces. In an interview with PTI, WeWork India Chief Executive Officer (CEO) Karan Virwani highlighted that the company has become profitable for the first time during January-March 2022, with a profit of Rs 25 crore at EBITDA (earnings before interest, taxes, depreciation, and amortization) level. "Our revenue was Rs 250 crore during the first quarter of this calendar year. We expect Rs 1,000 crore revenue in 2022 calendar year," he said. Profit is estimated at over Rs 100 crore (EBITDA). Virwani said the company had posted a revenue of Rs 750 crore in the 2021 calendar year. On the operational front, WeWork India has leased 1 million square feet in the first quarter. The current occupancy rate is 80 per cent. "Our portfolio was 4.5 million square feet in 2021, which has increased to 5 million square feet curren

WeWork India 2021 revenue up 33%; plans to add over 20K desks next year

Coworking major WeWork India's revenue rose by 33 per cent to over Rs 800 crore this year and is expected to grow further in 2022 on improved demand for its flexible workspaces, a company official said.

WeWork India turns profitable on top line of Rs 800 crore in Jan-Nov

The flexible office space start-up had entered India in July 2017 through a franchise model with Bengaluru-based property developer Embassy Group

WeWork India raises Rs 200 cr to grow biz, become profitable in 2021

Coworking major WeWork India on Monday said it has raised Rs 200 crore from investors as equity and debt

WeWork takes SPAC route to go public in $9 bn deal with BowX Acquisition

Current shareholders will own about 83% of the combined company, WeWork said

WeWork India expects 25% growth in revenue for 2020 despite Covid-19

WeWork India, which is owned by Bengaluru-based realty firm Embassy Group, has 34 centres comprising 60,000 desks across six major cities

WeWork Global to invest $100 mn in India business to help boost growth

WeWork said the Covid-19 pandemic has accelerated the shift to flexible workspaces, with businesses of all sizes looking to manage cash-flows effectively by moving costs to a variable model

10 well-known companies that laid off staff due to coronavirus

Here is the list of major companies that have said they are downsizing their workforce

Karnataka appellate authority sets precedent in reversal of AAR ruling

AAR had disallowed WeWork's ITC claim on detachable partitions; the reversal of its order would set a precedent as to what comes under movable property on whic ITC is allowed

WeWork India cuts 20% staff, says hard decisions needed to sustain pandemic

Virwani also noted in the communication that the first priority of the company is to get the maximum value from its buildings and reduce costs by the business efficiently

The workplace will change forever

Workstation areas can no longer have the crowded cafe feel as proximity may no longer seem so tempting

In first appointment under new CEO, WeWork names Shyam Gidumal its COO

(Reuters) - Office-sharing startup WeWork on Thursday named Shyam Gidumal, a former Ernst & Young executive, as its new chief operating officer in the first major executive appointment under new head Sandeep Mathrani.

WeWork appoints US real estate industry veteran Sandeep Mathrani as CEO

WeWork needed a new leader following the departure of controversial co-founder Adam Neumann.

Coworking centre operators likely to double or treble in 2 years: Anarock

In the coworking space, top seven operators - Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO Workspaces - have more than 350 centres across cities in the country

WeWork enters Hyderabad co-working space with 7,000 desk capacity

Company makes aggressive foray into city in contrast with gradual capacity build-up elsewhere, is sure of faster occupancy here as city posted highest office-space absorption in one quarter

Debates about entrepreneurship & growth

This is a crucial issue at a time when global business leaders are committing themselves to stakeholder interests rather than only shareholder interest