Innov8, one of India’s fastest-growing flex space startups, has reported an impressive start to FY26 with Q1 revenues of INR 38 crore, marking a 55% increase from INR 24 crore in the same period last year. Profitability also improved, with EBITDA rising to INR 8 crore, compared to INR 3 crore in Q1 FY25, underscoring the company’s strong operating performance.

This momentum follows a robust FY25 when Innov8 nearly doubled its revenues to INR 123 crore from INR 75 crore in FY24, and grew EBITDA to INR 70 crore from INR 47 crore. The company also stood out as one of only two net-profitable players in India’s flex space segment, reporting a profit of INR 7 crore in FY25.

A key growth driver has been the rise in average monthly membership revenue (AMMR) per seat, which grew 21% year-on-year to approximately INR 10,000. This reflects improved pricing power, customer loyalty, and a stronger seat mix favoring higher-yield formats. Innov8’s asset-light model, which leverages landlord-led capex for capital-efficient expansion, continues to fuel scalable and profitable growth.

To support its long-term ambitions, Innov8 transitioned from a private limited company to a public limited entity in FY25, while also raising its authorised share capital from INR 1.50 crore to INR 26.50 crore.

Pankhuri Sakhuja, Business Head, Innov8, said, “With a strong foundation and a clearly defined roadmap, we are looking for aggressive growth and confident of doubling our center count in FY26. 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.”

The growth comes at a time when demand for flexible workspaces in India has surged nearly sixfold over the past five years, according to Cushman & Wakefield. Innov8 is doubling down on technology adoption to drive operational efficiency and enhance vibrant, community-led workspace experiences that foster collaboration.

Innov8 offers premium plug-and-play workspaces with flexible layouts, enterprise-grade security, and fully managed services. Its centers are strategically located in prime business districts, giving enterprises access to top talent and infrastructure. Recent expansions include:

• House Zion near Mumbai International Airport with 1,500+ seats
  

• Prestige Tech Park, Bengaluru with 900 seats
  

• Graphix Towers, Noida with 500 seats
  

The company’s client portfolio includes leading enterprises such as Swiggy, Tata Digital, Apollo24/7, Paytm, Razorpay, IndusInd Bank, Whirlpool, BBC News, PepsiCo, Oppo, Snapdeal, Lenskart, Nykaa, BigBasket, Ola, and PhonePe.

Founded in 2015 by Dr. Ritesh Malik, Innov8 is currently present across 10 cities including Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad, and Indore, and continues to position itself as a leading force in India’s flex space industry.