New Delhi, India  October 9th 2024: Innov8, India’s leading coworking startup, has announced a strategic expansion in the managed office space sector. The company plans to expand its footprint by 4 million square feet across India over the next three years, marking its most ambitious growth initiative to date. As part of this expansion, Innov8 is set to unveil its largest managed office space project till date in Mumbai. The expansion will focus on Grade A buildings, ensuring premium quality and state-of-the-art amenities for its clients.

Ritesh Malik, Founder of Innov8 said, “This is an important milestone in Innov8’s growth and expansion. By entering the managed office space sector and undertaking this large-scale project in Mumbai, we’re positioning ourselves to meet the evolving needs of businesses in one of India’s most dynamic cities. We’ve had some early success here and we plan to replicate this across markets”

Pankhuri Sakhuja, Business Head – Innov8 said, “In 2024, India’s managed office space sector is witnessing unprecedented growth, projected to expand by over 15-20% year-on-year. This surge is driven by the rising demand for flexibility and cost-efficient solutions, with over 30 million sq. ft. of office space expected to be managed by leading operators. Innov8 stands out in the managed office space sector with its focus on creating premium, design-centric work environments tailored for productivity and collaboration. What sets Innov8 apart is its unique blend of aesthetics and functionality, offering fully customizable workspaces that cater to the needs of enterprises.”

Innov8 has invested over INR 50 crore towards the development of these managed office spaces.

Founded in 2015 by Dr. Ritesh Malik, Innov8 is currently spread across nine cities—Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad, and Indore—with over 35 centers hosting over 10,000 employees of brands like Swiggy, IndusInd Bank, Jio Saavn, PhonePe, and Tata Digital.

Recently Innov8 added three new centers within Delhi NCR, specifically in DLF Cyber City, Aerocity, Cyber Greens, Unitech Cyberpark and Aerocity, Okhla These additions span 60,000 square feet, enhancing Innov8’s portfolio with state-of-the-art facilities designed to foster a vibrant and productive work environment.