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WeWork posts Rs 575 Cr revenue and Rs 6 Cr profit in Q2 FY26

EntrackrEntrackr ยท 20d ago
WeWork posts Rs 575 Cr revenue and Rs 6 Cr profit in Q2 FY26
Medial

Managed office space provider WeWork India has announced its financial results for Q2 FY26 after debuting on Indian stock exchanges last month. The company posted a profit of Rs 6.4 crore in the second quarter. The companyโ€™s revenue from operations grew 23% year-on-year to Rs 575 crore in Q1 FY26 from Rs 469.5 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 10.5 crore which drove its total income of Rs 585.5 crore for the quarter. On a half-yearly basis, the firmโ€™s revenue increased 21% to Rs 1,110 crore in H1 FY26 from Rs 918 crore in H1 FY25. On the expense side, depreciation was the largest burn which stood at Rs 231 crore, whereas employee benefits expenses increased to Rs 48 crore. Finance costs amounted to Rs 153 crore which pushed the firmโ€™s total cost to Rs 579 crore in the second quarter. WeWorkโ€™s profit decreased by 97% to Rs 6.4 crore in Q2 FY26 as compared to Rs 203 crore in Q2 FY25. (It's worth noting that the company had received a deferred tax credit of Rs 235 crore in Q2 FY25, which contributed a PAT of Rs 203 crore.) On a half-yearly basis, the company posted a loss of Rs 8 crore in H1 FY26 as compared to a profit of Rs 174.5 crore in H1 FY25. WeWork Indiaโ€™s Rs 3,000 crore initial public offering (IPO) was entirely an offer-for-sale (OFS), with the promoter entity, Embassy Buildcon LLP, selling shares worth Rs 2,294 crore, and 1 Ariel Way Tenant, an affiliate of WeWork Global, offloading shares valued at around Rs 706 crore. WeWork India made a flat debut on Indian stock exchanges, listed at Rs 650 per share, only 0.3% premium over its issue price of Rs 648. At the end of todayโ€™s trading session, WeWork Indiaโ€™s shares closed at Rs 623.9, giving the company a total market capitalization of Rs 8,361 crore ($942 million).

Real estate majors are coming for the hotel industry bearing a โ‚น10,000-cr purse

LivemintLivemint ยท 1y ago
Real estate majors are coming for the hotel industry bearing a โ‚น10,000-cr purse
Medial

Indian property developers are increasingly investing in the hospitality sector, attracted by its rapid growth and high yields. Prestige Estates Projects, for example, signed a deal with Marriott International to manage six of its upcoming hotel projects. Meanwhile, other developers such as D B Realty, House of Abhinandan Lodha, DS Group, and K Raheja Corp's Chalet Hotels have earmarked substantial budgets for hotel development and management. Major industry players like Hyatt Hotels Corp are also focusing on India's hospitality industry, particularly in the luxury segment. This surge in investment highlights the sector's "golden era" and the potential for sustained growth in the Indian hotel industry.

Groww posts Rs 471 Cr profit on Rs 1,019 Cr revenue in Q2 FY26

EntrackrEntrackr ยท 9d ago
Groww posts Rs 471 Cr profit on Rs 1,019 Cr revenue in Q2 FY26
Medial

Digital investment platform Groww India has announced its financial results for Q2 FY26. The companyโ€™s revenue declined by 9% in the second quarter; however, it posted a profit of Rs 471 crore in the same period. The companyโ€™s revenue from operations fell 9.4% year-on-year to Rs 1,019 crore in Q2 FY26 from Rs 1,125 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 52 crore, which drove its total income to Rs 1,071 crore for the quarter. On a quarter-on-quarter basis, the companyโ€™s income rose by 13% from Rs 904 crore in Q1 FY26. However, for the six months period ending September 2025, the firmโ€™s revenue decreased 9.5% to Rs 1,923 crore in H1 FY26 from Rs 2,126 crore in H1 FY25. On the expense side, employee benefit was the largest burn, accounting for 29% of the total expense. This cost was cut by 53% to Rs 124 crore in Q2 FY26 from Rs 264 crore in Q2 FY25. Finance costs and depreciation costs were other overheads which contributed to the total expense, which reduced by 37% to Rs 432 crore in Q2 FY26 from Rs 690 crore in Q2 FY25. Due to the decrease in the companyโ€™s expenses, Growwโ€™s profit increased by 12% to Rs 471 crore in Q2 FY26 as compared to Rs 420 crore in Q2 FY25. On a half-yearly basis, the companyโ€™s profit increased by 12% to Rs 850 crore in H1 FY26 as compared to Rs 758 crore in H1 FY25. Groww made a strong debut on the Indian stock exchanges, listing at Rs 114 per share on the BSE, a 14% premium over its issue price. On the NSE, the stock opened at Rs 112. The companyโ€™s Rs 6,632 crore IPO comprised a fresh issue worth Rs 1,060 crore and an offer for sale of Rs 5,572 crore. According to exchange data, Growwโ€™s IPO was oversubscribed 17.6 times, with the retail portion subscribed 9.43X, QIBs (excluding anchors) 22.02X, and Non-Institutional Investors (NIIs) 14.2X. Groww Indiaโ€™s share is trading at Rs 164, giving the company a total market capitalization of Rs 1,01,166 crore ($11.4 billion).

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr ยท 25d ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25โ€“30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

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