OYO-owned Innov8 revenue jumps 58% to ₹38 crore in June quarter

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

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

Its revenue stood at Rs 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 Rs 8 crore from Rs 3 crore year-on-year.

During 2024-25 fiscal, Innov8 revenue surged to Rs 123 crore from Rs 75 crore in the preceding year. EBITDA also improved to Rs 70 crore from Rs 47 crore. The profit stood at Rs 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 per cent year-on-year to Rs 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 per cent stake in the company to investors at a valuation of Rs 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.