Innov8 plans to double its co-working centres in FY2024
financialexpress.comCo-working startup Innov8 has announced that it will double its footprint in the ongoing financial year FY 2023-2024. The company added 5 new centres in key business cities in India in early 2023 and is all set to inaugurate 5 more centres in the current quarter.
The company is in the process of setting up 10 additional centres in the last quarter of the financial year, thereby taking the new centre count in the year to 20. At the beginning of the year, Innov8 had 20 centres across 9 business cities, including Delhi, Gurgaon, Noida, Mumbai, Pune, Bangalore, Chennai, Hyderabad and Ahmedabad. With the ongoing expansion, Innov8 will add ~8000 seats and 300,000 sq. ft of co-working spaces across Delhi NCR, Mumbai, Pune, Bengaluru and Chennai. Innov8 and its partners plan to invest Rs 100 crore + to open these centres pan India.
The 5 new centres added in early 2023 include Innov8 Solitaire Corporate Park and Innov8 Times Square in Andheri, Mumbai; Innov8 Suman Business Park in Kalyani Nagar, Pune; Innov8 Huda City Centre in Gurgaon; and Innov8 Millenia in OMR, Chennai.
Innov8 Aerocity and CP in New Delhi, Innov8 Marol in Mumbai, and Innov8 locations in Bellandur and KR Puram in Bangalore are amongst centres slated to be inaugurated within this quarter.
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Innov8’s pivot to a ‘5 mins to a metro station’ strategy, to open new co-working centres only near metro stations and key arterial roads across top business cities in India, has been instrumental in driving this growth. The company has witnessed over 90% occupancy, high demand and healthy rentals in its co-working centres across the country which are within five minutes to metro stations. As work from office or at
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