Innov8,a flex space startup, has detailed a Profit After Tax (PAT) of Rs 62 crore in FY 2024 counting one-time remarkable things compared to Rs 2.5 crore in FY 2023. With this, Innov8 is presently one of the as it were two net profitable companies in the flex space business. 

The development can be credited to a productive working shows which centers on asset light expansion with least capex investment, a combination of adaptable and overseen workspaces catering to advancing client necessity and a vital nearness in key clusters in metros that guarantees solid revenue-to-rent proportion and proximity to ability, clients and accomplices. 

Innov8 as of now works over 45 centres crossing 17,000 seats over 10 major cities counting Delhi-NCR, Mumbai, Bengaluru and Hyderabad. It is arranging to double its centers in 2025 moving towards greater centers with the situate capacity anticipated to extend to over 50,000, a 3x increment. 

The company is raising Rs 100 crore to accelerate its operations in 2025. The capital raised will back key inorganic development openings such as acquisitions, innovation upgrades, partnerships, and extension into specialty segments.

Innov8 has extended into the overseen office space segment, pointing to include 4 million square feet to its impression over India over the following three a long time. This development will concentrate on Review A buildings, giving clients with premium quality and state-of-the-art amenities to raise their workspaces.

Founded in 2015 by Dr Ritesh Malik, Innov8 is as of now spread over 10 cities—Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad & Indore.

source: bwdisrupt.