WeWork India thrives despite global bankruptcy, CEO projects strong revenue growth

“WeWork still continues to be synonymous with the flex industry. We are a category defining brand and we have built that at a global level. If you look at what is happening in US or around the world, WeWork isn’t going into Lehman Brother kind of an event. We are filing a Chapter 11 bankruptcy which allows for companies to restructure their balance sheet. Our competitor like IWG has done this during Covid, retailers have done this in the past. So, companies that are category defining brands, even today, continue to operate after coming out of the bankruptcy or Chapter 11 process. We are long term players, we believe in the space and the brand long term. There is a little bit of pain right now but we know that the management team has a very strong plan to get out of this," Virwani said, emphasizing the resilience of WeWork India in the current landscape.

Virwani revealed that WeWork India's separate operating agreement, established since 2017, gives them the right to use the WeWork brand name. He anticipates a great amount of business activity in the next 5 to 10 years, with multinational corporations (MNCs) continuing to hire in significant volumes. Additionally, he pointed out that India has chosen to return to the office as a primary way of working, which WeWork India aims to leverage as an increasingly hybrid way of working emerges.