Innov8 Workspaces reported a net profit of ₹13.8 crore in fiscal year FY26, marking an 11.8-fold increase from ₹1.2 crore in FY25, according to its annual report. The company’s operating revenue rose 76% to ₹201.3 crore from ₹114.5 crore, while EBITDA net of lease increased 64.6% to ₹49.4 crore. Total income, including other income, doubled to ₹240.2 crore in FY26 from ₹117.5 crore the previous year.
The sharp improvement in Innov8’s profitability was supported by a significant rise in non-operating income, which reached ₹38.9 crore in FY26, more than 12 times the ₹3.1 crore recorded in FY25. A large part of this was a ₹36.7 crore gain from the termination of lease contracts. Rental income remained the primary revenue source, contributing ₹173.6 crore or 86% of operating revenue, up 59.3% from ₹108.9 crore in FY25.
Innov8’s financial performance reflects rapid expansion and recovery after a 97% profit decline in FY25 from ₹37.7 crore in FY24. Operating revenue nearly quadrupled over two years, rising from ₹52.7 crore in FY24 to ₹201.3 crore in FY26. The company had projected doubling its FY26 I-GAAP EBITDA to ₹60 crore back in September 2025, indicating strong growth momentum in the flexible workspace sector.
The company’s FY26 results highlight a turnaround driven by increased rental income and strategic lease terminations. Innov8’s next financial update will be closely watched to assess whether it can sustain this profitability trajectory amid ongoing expansion across India.