Innov8 Acquires Vatika Business Centres to Scale Managed Workspace Portfolio
New Delhi, June 23, 2026: In a major consolidation within India’s flexible workspace sector, coworking startup Innov8 has acquired Vatika Business Centres for an undisclosed amount to accelerate its national expansion program. Announced on Tuesday in New Delhi, the strategic acquisition brings 11 prime business centres under Innov8’s direct management. The newly integrated properties are located across key commercial hubs, including New Delhi, Gurugram, Chennai, Bengaluru, Hyderabad, Noida, and Pune, instantly boosting the company’s regional footprint, Innov8 said in a press release.
The acquisition adds immediate scale to Innov8’s portfolio, bringing with it a strong base of corporate clients and established operational capabilities in the managed office segment. With this expanded real estate footprint, Innov8 is positioning itself to deepen its focus on enterprise clients who are increasingly seeking high-quality, fully managed office solutions. This move coincides with an accelerating demand for flexible workspaces, driven by the widespread adoption of hybrid work models and agile real estate strategies among large enterprises and global capability centres.
Speaking on the development, Varun Jain, Chief Operating Officer-Asia, PRISM and Innov8 said “This acquisition aligns with our vision of building a leading premium coworking and managed workspace platform in India. Vatika Business Centres has built a strong reputation for quality and enterprise-grade offerings, and we see significant synergies in integrating their portfolio with Innov8’s design-led, community-driven approach.”
The transition is expected to open new avenues for innovation by combining Vatika’s premium corporate network with Innov8’s tech-driven ecosystem. Commenting on the transition, Gaurav Bhalla, Managing Director, Vatika Hospitality said “Joining forces with Innov8 opens up new avenues for growth and innovation. Together, we aim to deliver enhanced value to our clients through expanded offerings, improved technology integration, and a broader network of premium workspaces.”
From a financial perspective, the acquisition is structured to support sustainable growth by enhancing operational efficiency, strengthening margins, and unlocking new revenue opportunities across the combined business. Rakesh Kumar, Chief Financial Officer, PRISM and Innov8 added “This transaction reflects our disciplined approach to capital allocation and long-term value creation. We see clear opportunities to drive operating efficiencies, improve margins, and accelerate revenue growth as we integrate these centres into the Innov8 network.”
This high-profile deal highlights a broader phase of rapid expansion within India’s flexible workspace sector, which has transitioned from a niche alternative into a mainstream real estate solution. According to industry data released by Cushman & Wakefield last year, flexible workspaces now account for 14% of the country’s total office leasing activity. This sector-wide growth continues to be fueled by rising demand from large enterprises, startups, and global capability centres prioritizing scalability, flexibility, and cost efficiency in their corporate office strategies.
