October 2026
Largest Workspaces Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Wework India Management, Smartworks Coworking, Indiqube Spaces, EFC (I) and Awfis Space Solutions.
 | Wework India Management Ltd is a premium flexible workspace operator in India. It provides flexible, high-quality workspaces to its customers which include companies of all sizes: large enterprises, small and mid-size businesses, startups, as well as individuals. The company's portfolio comprised approximately 114,077 desks across 68 Operational Centres with an aggregate Leasable Area for Operational Centres of 7.67 million square feet. It offers a comprehensive mix of flexible workspace solutions, including a mix of custom designed buildings, floors and offices, enterprise office suites, customized managed offices, private offices, co-working spaces, and hybrid digital solutions. | $7 | -- | $914M | $1.5B | 5.7x | 8.7x | ||
| Smartworks Coworking Spaces Ltd is an office experience and managed campus platform. It leases and manages approximately SBA of 8.99 million square feet. The company equips its campuses with modern and aesthetically pleasing designs and amenities such as cafeterias, sports zones, smart convenience stores, gymnasiums, and medical centres etc., to provide a collaborative workspace. It focuses on mid-to-large enterprises and has built a growing client base, which includes Indian corporates, MNCs operating in India, and startups. Geographically, the company generates the majority of its revenue from India, and Others. | $5 | -19% | $564M | $1.1B | 5.6x | 8.7x | ||
| Indiqube Spaces provides managed office space to enterprises. It leases buildings, fits them out and rents them to clients on long contracts with services. Headquartered in Bengaluru. | $2 | -28% | $369M | $876M | 5.7x | 9.1x | ||
| EFC (I) runs managed and flexible office space under the EFC brand, with centres in Mumbai and other cities. Its customers are companies renting seats and offices, and it also has a small real estate business. It is headquartered in Mumbai. | $2 | -47% | $259M | $398M | 3.7x | 8.8x | ||
| Awfis Space Solutions Ltd is a flexible workspace solutions company with a presence in various cities in India. It provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customized office spaces for start-ups, small and medium enterprises (SMEs) as well as for large corporates and multi-national corporations. It also provides integrated facility management services and enterprise workspace designing and building services. The group is organized into several business segments: Providing co-working space on rent and allied services, Facility management services, Construction and fit-out services, and Other services. Key revenue is generated from Co-working space on rent and allied services. | $3 | -63% | $180M | $327M | 2.1x | 5.3x | ||
| Dev Accelerator Ltd is one of the flex space operators. Its comprehensive office space solutions include sourcing office spaces, customizing designs, developing spaces and providing technology solutions to providing complete asset management. Its clientele comprises of large corporates, MNCs and SMEs, to whom the company offers a variety of flexible office space solutions such as managed office spaces and coworking spaces as well as design and execution services through its Subsidiary. The flexible workspace solutions provided by the company at its Centers are divided in the following segments: Managed office spaces, Coworking spaces, Design and execution services, Payroll management services, Facility management services, and IT/ITes services. | $0 | -- | $42M | $76M | 3.2x | 6.6x | ||
| Median | $2 | -37% | $314M | $637M | 4.6x | 8.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.