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Innov8 has shown substantial growth in revenue and profitability, posting a 58% increase in its latest quarter driven by strong demand for managed office spaces. EBITDA and net profit also improved, supported by higher membership revenue per seat. The company's asset-light model has enabled efficient scaling while maintaining cost discipline. With plans to double its centres and focus on high-density metro hubs, Innov8 aims to strengthen its enterprise-grade offerings. The co-working market in India is expanding rapidly, with operators projected to manage over 100 million square feet by 2026.
Innov8, the co-working firm owned by OYO Group, reported a 58% increase in its revenue for the June quarter of FY26, reaching INR 38 crore, driven by rising demand for managed office spaces. In comparison, the company had recorded INR 24 crore during the same period last year. Advertisement
The company's profitability also improved significantly, with EBITDA rising to INR 8 crore from INR 3 crore year-on-year. During the 2024-25 fiscal year, Innov8's revenue jumped to INR 123 crore from INR 75 crore in the previous year, while EBITDA increased to INR 70 crore from INR 47 crore. Net profit stood at INR 7 crore for the last fiscal.
The growth was largely supported by an increase in the average monthly membership revenue per seat, which rose 21% year-on-year to INR 10,000. The company highlighted that its asset-light model, which relies on landlord-led capital expenditure, enables efficient expansion, optimal asset utilization, and disciplined cost management.
Pankhuri Sakhuja, Business Head at Innov8, mentioned that the company is aiming for aggressive growth and expects to double the number of its centres in FY26. She added that the focus will be on expanding in high-density hubs in major Indian metros and strengthening enterprise-grade solutions, including private suites and managed offices. Key growth will be prioritised in regions like the Mumbai Metropolitan Region, given the strong market potential.
Founded in 2015, Innov8 now operates over 50 centres with 24,000 desks, covering a total area of 1.2 million square feet across cities including Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore. In June, the company sold a 3% stake to investors at a valuation of INR 1,000 crore to support its expansion amid rising demand for flexible workspaces.
According to data from real estate consultant Vestian, co-working operators are expected to manage more than 100 million square feet of office space by the end of 2026, reflecting the growing significance of flexible work solutions in India's office market.
Source PTI
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