Innov8, the coworking arm of OYO Group, posts a 58 per cent year-on-year (YoY) rise in revenue for the April–June quarter of FY26, reaching Rs 38 crore, driven by higher demand for managed office space. In the same quarter last year, revenue stood at Rs 24 crore.
The company also reports improved profitability, with earnings before interest, taxes, depreciation and amortisation (EBITDA) rising to Rs 8 crore from Rs 3 crore a year earlier.
For FY25, Innov8’s revenue climbed to Rs 123 crore from Rs 75 crore in the previous fiscal, while EBITDA rose to Rs 70 crore from Rs 47 crore. The company posted a net profit of Rs 7 crore for the year. The revenue surge was supported by a 21 per cent increase in average monthly membership revenue (AMMR) per seat, which reached Rs 10,000 compared with the prior year.
According to the company, its growth and improved margins are underpinned by an asset-light model, wherein landlord-led capital expenditure supports expansion. The model enables Innov8 to scale operations, optimise asset utilisation and maintain cost discipline.
Pankhuri Sakhuja, Business Head, Innov8, said that they are aiming for aggressive growth and expect to double our number of their centres in FY26. She added that the focus will be on high-density urban hubs across major metros and strengthening enterprise solutions such as private suites and managed offices. Expansion is being prioritised in regions including the Mumbai Metropolitan Region.
Founded in 2015, Innov8 has established more than 50 centres with 24,000 desks across 1.2 million square feet in cities including Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad and Indore.In June, Innov8 sold a 3 per cent stake to investors at a valuation of Rs 1,000 crore, with plans to use the proceeds to expand operations amid growing demand for flexible workspaces.
(With inputs from PTI) |
