Unlisted Shares
Innov8 Workspaces India Limited
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About Innov8 Workspaces India Limited
Innov8 Workspaces India Limited is a prominent flexible workspace provider in India, offering managed co-working spaces and enterprise office solutions. Founded in 2015 and acquired by OYO in 2019, the company focuses on premium, design-driven office environments catering to startups, SMEs, and large enterprises. Innov8 operates across major metropolitan cities, providing fully serviced offices, shared workspaces, and customized enterprise solutions. With increasing demand for flexible work arrangements and hybrid work models, the company is positioned to benefit from the structural shift in office space utilization.
Share Details
| company Name | Innov8 Workspaces India Limited |
| indicative Unlisted Share Price | ₹73 |
| market Capitalization | ₹1475 Cr |
| lot Size | 1000 |
| 52 Week High | ₹58 |
| 52 Week Low | ₹52 |
| face Value | ₹1 |
| book Value | ₹2.42 |
| pe Ratio | 1160 |
| pb Ratio | 23.97 |
| debt To Equity | 0.61 |
| return On Equity | 1.89% |
| total Outstanding Shares | 25,43,43,610 |
| isin | INE1BW01022 |
| depository | NSDL & CDSL |
| pan | AACCO9563F |
| cin | U70100DL2019PLC351211 |
| rta | Skyline Finserv |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 2,157 | 3,687 | 5,288 | 11,445 |
| EBITDA | 648 | 1,523 | 2,622 | 6,806 |
| Operating Profit | 648 | 1,523 | 2,622 | 6,806 |
| EBIT | -114 | 439 | 583 | 2,365 |
| Profit Before Tax | -19 | 119 | 1,081 | -316 |
| Net Profit / Loss | -19 | 119 | 370 | -432 |
| EPS | -0.19 | 1.19 | 3.77 | 0.05 |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Operating Profit Margin (%) | 30.04 | 41.31 | 49.77 | 57.72 |
| Net Profit Margin (%) | -0.88 | 3.23 | 7.56 | 1.01 |
| EPS | -0.19 | 1.19 | 3.77 | 0.05 |
Financial Annual Report Summary
Innov8 has demonstrated strong revenue growth driven by expansion in workspace capacity and rising demand for flexible offices. Revenue increased from ₹2157 Cr in FY22 to ₹11,445 Cr in FY25. However, profitability remains volatile due to high operating costs, expansion expenses, and depreciation. EBITDA has improved significantly, but net profit remains inconsistent with losses in FY25.
Why Invest in Innov8 Workspaces India
- Revenue growth is strong, driven by expansion and increasing demand for flexible workspaces.
- EBITDA margins are improving significantly, indicating operational efficiency.
- Net profitability remains inconsistent due to high expansion costs.
- High valuation multiples suggest premium pricing with execution risks.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 1,609 | 5,075 | 3,371 | 4,771 |
| Trade Receivables | 179 | 383 | 488 | 2,418 |
| Other Assets | 4,719 | 5,270 | 9,283 | 51,419 |
| Total Assets | 6,507 | 10,728 | 12,551 | 64,132 |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 100 | 100 | 100 | 2,543.4 |
| Reserves | -12,887 | -12,712 | -8,946 | 3,609 |
| Borrowings | 202 | 0 | 0 | 3,729 |
| Trade Payables | 6,813 | 6,855 | 10,627 | 6,867 |
| Other Liabilities | 2,279 | 16,485 | 14,740 | 47,563.6 |
| Total Liabilities | 6,507 | 10,728 | 12,551 | 64,132 |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
The balance sheet has expanded significantly due to aggressive scaling. Large increase in liabilities and assets reflects capital infusion and expansion strategy. Negative reserves in earlier years indicate past losses, though improving in FY25.
Liabilities Breakdown
Liabilities are heavily driven by operational payables, lease obligations, and expansion financing. Borrowings increased in FY25 indicating reliance on external funding.
Additional Insights
Innov8 is in a high-growth expansion phase with significant capital deployment. While scale is increasing rapidly, financial leverage and liability growth should be monitored closely.
Cash Flow Insights
- Operating cash flow was strong until FY24 but turned negative in FY25 due to expansion.
- Heavy investing outflows reflect aggressive growth and capital expenditure.
- Financing inflows increased significantly, indicating reliance on funding.
- Cash flow volatility reflects growth-stage business dynamics.
Shareholding Pattern
Shareholding pattern data not available
Promoters & Management
Innov8 is backed by OYO (Oravel Stays Limited), providing strong institutional backing and access to capital and operational expertise.
Registrar & Transfer Agent (RTA)
Registrar: Skyline Finserv
Website: https://www.skylinerta.com/
Management Analysis
With backing from OYO, Innov8 has strong strategic support for expansion. The management focuses on scaling workspace capacity and improving utilization rates. However, achieving consistent profitability will be key to long-term sustainability.
Frequently Asked Questions About Innov8 Workspaces India Limited
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