Overview
- Shares jumped nearly 8% in early trade to about Rs 662.8 before easing to the mid-600s.
- The Rs 790 price objective implies roughly 28% upside from the previous close near Rs 615.
- Jefferies forecasts FY25–FY28 compound growth of about 22% for revenue and 28% for EBITDA.
- The firm cites a flexible-workspace market expanding around 17% annually, with WeWork India leading by revenue and generating higher average revenue per member than listed peers.
- Jefferies flags a peer-leading FY25 revenue-to-rent ratio of 2.7 and expects 15,000–20,000 seats added each year, while cautioning that a sharp drop in office demand is the main risk.