new delhi oct 10 coworking major wework india owned by realty firm embassy group will raise usd 200 million around rs 1400 crore by december to expand business and expects to be profitable at the entity level in one year a top company official said asserting that there would be no impact on the indian operation due to deferment of public issue of usbased wework india business head karn virwani said the company has already invested rs 1300 crore including rs 1000 crore as equity in this business and will continue to infuse more for growth there is lot of speculation about wework india business we still believe in wework brand india business is really growing well embassy group is bullish about the coworking sector and we continue to expand wework india cweo karan virwani told in an interview wework india has 26 operational coworking centres with 46000 seating capacity it has 9 centres in bengaluru 10 in mumbai 6 in gurugram and one in pune where seats are available in range of rs 500040000 per desk per month we are targeting to reach 100000 desksseats by end of the next year in order to fund this expansion plan we plan to raise usd 200 million by end of this year from foreign and domestic investors he said wework india will soon enter noida and hyderabad markets it has taken on lease over 3 lakh sq ft office space to open three coworking centres comprising nearly 3900 seats in noida the company is leasing more office spaces to expand operation virwani said the company has achieved profitability at centre level and expects to earn profit at the entity level over the next 12 months wework india is an independent entity with the right to execute its business in india and it pays a management fee to the american firm last week embassy group said there would be no impact on the indian operation due to deferment of initial public offering ipo of usbased weworks parent the we company the ipo was postponed a week after the softbankbacked startup removed founder adam neumann as its chief executive officer virwani said the company is working closely with the new management at the global level wework india which is wholly owned and funded by embassy group is our big bet in this space wework india is a strategic longterm play for embassy group and its performance has exceeded our expectations this year an embassy group spokesperson had said earlier bengalurubased embassy group a major player in indian commercial real estate that launched indias first reit earlier this year had partnered usbased wework in 2016 to enter into coworking business mjh anu