Coworking Stocks and Companies in India

The largest Coworking stocks in India by market value are Wework India Management (₹9,450 crore), Smartworks Coworking Spaces (₹5,577 crore) and EFC (I) (₹2,473 crore), at prices of 4 Nov 2026.

• Wework India Management: ₹680.50 | market value ₹9,450 crore | P/E 92.2
• Smartworks Coworking Spaces: ₹487.60 | market value ₹5,577 crore | P/E 98.4
• EFC (I): ₹164.95 | market value ₹2,473 crore | P/E 9.6
• AWFIS Space Solutions: ₹256.19 | market value ₹1,834 crore | P/E 21.6

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

All 4 listed Indian Realty - CoWorking companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Realty - CoWorking index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Wework India Management Ltd₹8,820 cr
2. Smartworks Coworking Spaces Ltd₹5,500 cr
3. EFC (I) Ltd₹2,560 cr
4. AWFIS Space Solutions Ltd₹1,670 cr

4 Coworking companies in the Realty - CoWorking industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 4 are listed below, largest first. The largest is Wework India Management (₹8,818 crore) and the smallest with a market value is AWFIS Space Solutions.

Download all 4 Coworking companies (CSV)

The line below covers up to 4.3 years and opens on the 3Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 19% behind NIFTY 500. Earnings across its companies grew 33% on average over the last four reported quarters.

0 of 4 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high). 1 is 20% or more behind over a year while earnings grew 20% or more.

Not ahead of NIFTY 500 on the three-month view this week; 2 of the 4 companies in the industry index above their 200-day average (no change from four weeks earlier); 0 of those 4 pass the momentum test (1 fewer than four weeks earlier); earnings rising at 4 of the 4 that report earnings.

Not ahead of NIFTY 500, not building participation, not giving any back. Earnings confirming, 4 of 4 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Realty - CoWorking has done worse than the NIFTY 500 by 21.7% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 2.1%. EFC (I) Ltd is the strongest against the sector itself at −13.8%.

Realty - CoWorking has done worse than the NIFTY 500 by 21.7% over 52 weeks and by 2.1% over 13 weeks. 0 of 4 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 0 of the 2 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

EFC (I) Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 68.1% evidence confidence.

Wework India Management Ltd has the strongest one-year price move in Realty - CoWorking at −1.6%. It also leads on relative strength against the NIFTY, at +10.0%. 2 of 4 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Realty - CoWorking itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

A young, recently-IPO'd flexible-office cohort (WeWork India, Smartworks, EFC, Awfis) caught mid-way through a textbook loss-making-scale-up-to-profitability inflection, NOT distress, but with a peak-margin caveat. Revenue compounded from ₹156 Cr (2019) through ₹617 Cr (2022) to ₹6,766 Cr (2026), a ~43x build, while the sector printed losses every year FY19-FY24 (profit -₹62 → -₹291 → -₹141 Cr) before swinging to +₹274 Cr (2025) and +₹392 Cr (2026).

From our industry review of 14 June 2026. A newer review (10 October 2026) did not cover Realty - CoWorking, so this is the latest we have.

2 of 4 Realty - CoWorking companies held a results call for July to September 2026. Smartworks Coworking Spaces guided: FY27 revenue growth 33-35%.

From the results calls for July to September 2026.

Big funds, foreign and Indian, cut their stake by 0.3 points over the last two quarters. Founders and promoters cut theirs by 1.4 points.

• Spending on new plants and equipment was ₹1,412 crore in the last 12 months, 58% more than a year before.
• Projects still being built shrank 43% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 4 Realty - CoWorking companies, in percentage points.

Ownership and spending as of 10 October 2026.

Our deep dive of 7 August 2026 compared 8 Coworking companies on their own reported operating numbers. Every figure links to the filing it came from.

The industry: enterprise seats 2024 25: 1,60,000 · enterprise seats 2026 27: 2,00,000 · enterprise demand share %: 70. Colliers Flex India, 11 December 2025

A live comparison built around occupancy, seats, rent-adjusted margins, capital spending, lease risk and management guidance. 165 filings, presentations and call transcripts were read for it.

Deep dive of 7 August 2026; it used to live at /sector-deep-dives/country/flexible-workspaces

Wework India Management Ltd has the highest Revenue among the 4 Realty - CoWorking companies compared here, at ₹2,782 crore. Smartworks Coworking Spaces Ltd is next at ₹2,129 crore. EFC (I) Ltd has the highest Revenue growth at 42.3%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Wework India Management Ltd is the largest at ₹2,782 crore, 30.7% ahead of Smartworks Coworking Spaces Ltd. EFC (I) Ltd's growth is 42.3% from a ₹1,101 crore base, with 16 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Wework India Management Ltd is the size to compare against; EFC (I) Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Wework India Management Ltd's growth falls below EFC (I) Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Smartworks Coworking Spaces Ltd has the highest OPM among the 4 Realty - CoWorking companies compared here, at 64%. AWFIS Space Solutions Ltd has the highest Margin change at 0 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Smartworks Coworking Spaces Ltd leads opm at 64%; AWFIS Space Solutions Ltd leads margin change at 0 percentage points.

What this means: Smartworks Coworking Spaces Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

EFC (I) Ltd has the highest Net profit among the 4 Realty - CoWorking companies compared here, at ₹259 crore. Wework India Management Ltd is next at ₹99 crore. Wework India Management Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: EFC (I) Ltd earns the most, ₹259 crore of profit over the last 12 months, 161.6% above Wework India Management Ltd. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: EFC (I) Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

EFC (I) Ltd has the highest ROCE among the 4 Realty - CoWorking companies compared here, at 19.8%. AWFIS Space Solutions Ltd is next at 13.5%. Wework India Management Ltd has the highest ROCE change at +1.1 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: EFC (I) Ltd leads ROCE at 19.8%, 6.3 percentage points above AWFIS Space Solutions Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: EFC (I) Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: EFC (I) Ltd (EFCIL): its two data sources disagree by up to 276% on reported income across 16 comparable periods, so its derived ratios are withheld; AWFIS Space Solutions Ltd (AWFIS): its two data sources disagree by up to 7.4% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

No company in this Realty - CoWorking comparison reports a valuation figure this section can compare, so the PEG rank is empty. On P/E, EFC (I) Ltd is lowest at 9.97× at the latest share price, across 4 of 4 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable peg leader.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

Not enough comparable data.

P/E · lowest P/E

All-company data · latest reported quarter

PEG is left out: no company here reports it on a comparable basis.

Realty - CoWorking companies show up on one of our India lists. The most are on the real estate, reit & cement list (4 companies).

This Realty - CoWorking comparison names 6 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 2 have second-source figures left out because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 2 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Valuation have fewer than three usable current readings.

This comparison is built from the reported filings of 4 Realty - CoWorking companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

2 of 4 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: EFC (I) Ltd (EFCIL): its two data sources disagree by up to 276% on reported income across 16 comparable periods, so its derived ratios are withheld; AWFIS Space Solutions Ltd (AWFIS): its two data sources disagree by up to 7.4% on reported income across 14 comparable periods, so its derived ratios are withheld.

These 21 answers restate the Realty - CoWorking comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.