Jefferies has initiated coverage on WeWork India with a buy rating and a target price of ₹790, highlighting its position as the country’s largest flexible workspace operator by revenue. The brokerage said the flexible workspace segment has been expanding at around 17% CAGR—nearly double the pace of traditional office stock—leaving considerable runway for deeper penetration across major metros.
According to Jefferies, WeWork India’s premium positioning enables it to command higher average revenue per member and stronger margins than peers, which strengthens its competitive edge as the industry consolidates. The brokerage expects the company to deliver a 22% CAGR in IGAAP revenue and a 28% CAGR in EBITDA through FY25–28, supported by sustained demand, a maturing hybrid work culture and efficient space monetisation across centres.
Jefferies noted that the company’s brand strength, scale and pricing power place it in a favourable position to capture incremental demand as corporates increasingly migrate toward flexible workspace solutions.
Disclaimer: The views above are those of Jefferies. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
