Innov8 Expands Presence with 271-seater Co-working Centre in Delhi

Co-working firm Innov8 has opened a new centre in Aerocity, Delhi, with 9,500 square feet and 217 desks. The company invested Rs 4 crore in the centre's development. Innov8 founder Ritesh Malik highlighted Aerocity's strategic location and business community. Despite a decline in leasing by flexible space operators, they still hold a significant share in India's office space market.

Co-working firm Innov8 on Tuesday said it has opened a new centre, comprising 9,500 square feet of office space and 217 desks, at Aerocity in the national capital.

In a statement, Innov8 said it has invested Rs 4 crore towards the development of this co-working centre.

''Aerocity's central location and thriving business community made it a perfect fit for us as we expand across Central Business Districts and transit hubs in the city,'' Ritesh Malik, Founder of Innnov8, said.

Founded in 2015, Innov8 is currently spread across nine cities - Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad and Indore, with 30-plus centres.

According to real estate consultant Colliers India, the leasing of office space by flexible space operators declined 14 per cent in January-March to 1.8 million square feet from 2.1 million square feet in the year-ago period across Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. These operators garnered a 13 per cent share in overall India leasing during Q1 2024.