WeWork India saw its revenue grow by 33% in 2021, and the company expects to see continued growth in the new year as demand for coworking spaces rises.
In order to meet this demand, WeWork India CEO Karan Virwani said that the firm plans to expand its portfolio by one million square feet and around 20,000 desks.
Currently, WeWork India has 36 locations across six cities, equating to 5 million square feet and 64,000 seats.
Occupancy across WeWork India’s locations has also reached to over 75%, which made its portfolio profitable during the month of November.
“Today companies of all sizes, be it 100-year-old company or a startup, are looking at flexible space as the way to move forward,” said Virwani. “Corporates want to adopt a hybrid model in their real estate strategy as they come out of the pandemic. [Corporates] want multiple products and multiple solutions for how they want to operate.”