OYO-Owned Innov8 Revenue Rises 58% to ₹38 Cr in Apr-Jun

OYO Group-owned co-working firm Innov8 has posted 58% increase in its revenue for June quarter FY26 at ₹38 crore on better demand for managed office spaces.

Its revenue stood at ₹24 crore in the year-ago period.

In a statement on Tuesday, the company said its profitability also strengthened, with Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surging to ₹8 crore from ₹3 crore year-on-year.

During 2024-25 fiscal, Innov8 revenue surged to ₹123 crore from ₹75 crore in the preceding year. EBITDA also improved to ₹70 crore from ₹47 crore. The profit stood at ₹7 crore in the last fiscal.

Innov8 attributed the growth in revenue to an improvement in average monthly membership revenue (AMMR) per seat, which increased by 21% year-on-year to ₹10,000.

"This sustained momentum in Innov8's revenue growth and profitability is driven by asset-light model that leverages landlord-led capex for capital-efficient expansion, and its ability to scale operations efficiently, maximise asset utilisation, and maintain disciplined cost management," the statement said.

Pankhuri Sakhuja, Business Head, Innov8 said the company is looking for aggressive growth and confident of doubling its centres in 2025-26.

"Our focus is on accelerating expansion in high-density hubs across India's major metros and strengthening enterprise-grade solutions such as private suites and managed offices. We see significant potential in regions like the Mumbai Metropolitan Region and will continue to prioritise growth in these key markets," Sakhuja said.

Founded in 2015, Innov8 has more than 50 centres, having 24,000 desks covering 1.2 million square feet area, across Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad and Indore.

In June this year, Innov8 sold 3% stake in the company to investors at a valuation of ₹1,000 crore to expand its business amid rising demand of flexible workspace.

As per the data by real estate consultant Vestian, co-working operators will hold more than 100 million square feet of office space by the end of 2026.