Innov8, a prominent co-working startup in India, has revealed its intention to double the number of its co-working centers nationwide by the year 2025. Presently, the company operates more than 45 centers, accommodating around 17,000 seats across ten major cities, which include Delhi, Gurgaon, Noida, Mumbai, Navi Mumbai, Pune, Chennai, Bangalore, Ahmedabad, and Hyderabad.
The company is transitioning towards larger facilities, with an anticipated increase in seating capacity to over 50,000, representing a three-fold growth, while simultaneously doubling the number of centers.
Innov8 co-working spaces are tech-enabled workspaces with advanced audiovisual equipment and secure access systems to support seamless business operations. These are premium co-working spaces with uninterrupted connectivity, easy access, and proximity to key transit hubs such as metro stations, airports, and railway stations, all at an affordable price.
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The demand for co-working spaces is growing in India. A private equity company Avendus report says that India’s workspace market is projected to reach 126 million square feet (msf) by 2028, up from 61 msf in 2023. The expansion aligns with changing market dynamics as more global capacity centers (GCC), startups, solopreneurs, food aggregators, SMEs, and large enterprises adopt co-working spaces to enhance employee productivity, foster collaboration, and optimising operational costs by scaling up or down as per business requirements.
Speaking on the development, Ritesh Malik, Founder of Innov8, said, “Our decision to double the number of Innov8 centers is backed by the consistent increase in inquiries, higher occupancy rates, and the evolving needs of modern professionals. Our operational excellence and design efficiency allows us to offer competitive pricing to clients without compromising on quality while maintaining healthy margins and higher returns per square foot.”
Pankhuri Sakhuja, Business Head of Innov8, said, “Innov8 is focused on expanding its presence in areas where the need for flexible, collaborative workspaces is accelerating. Our solutions cater to diverse business needs with the support of dedicated teams, customized offerings, and robust technology integration. It ensures a seamless transition for any organization seeking growth and stability in a vibrant economic ecosystem.”
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