WeWork India rises as Jefferies starts coverage with 'buy'

Wework India Management

18/11/2025 04:31

** Shares of WeWork India Management WEWO.NS rise 4.62% to 643.15 rupees; set to gain the most since listing

** Jefferies initiates coverage with a "buy" rating and a PT of 790 rupees, implying an upside of 28%

** Says higher returns than office landlords and faster growth make co an attractive play on India's office market, but cautions that a sharp downturn in office demand remains key risk

** Adds WEWO to add approximately 15,000-20,000 seats annually over the next 3 years and that co's presence in top-8 cities enables it to target high-end member base, supporting average revenue per user roughly twice that of listed peers

** Says co's premium positioning is evident in its peer-leading FY25 revenue-to-rent ratio of 2.7, a critical driver of profitability

** WEWO up 2.3% since October 10 trading debut

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))