Archive · 27 Aug 2026
Cult.fit targets 100 cities as IPO timing remains undecided
Cult.fit is a company that offers fitness services and products.
It wants to operate in up to 100 cities within four to five years.
The company currently has many locations in its four biggest cities.
It now plans to add more cities while growing in places where it already operates.
Cult.fit has also said it may sell shares to the public through an IPO.
However, it has not decided when the IPO will happen.
The company wants to first hear what investors think and respond to regulators’ questions.
Its profitability and customer retention have improved, according to its CEO.
Cult.fit plans to expand to as many as 100 cities over the next four to five years.
CEO Naresh Krishnaswamy said the company will determine its IPO timing after receiving investor feedback.
Cult.fit’s EBITDA margin improved to about 8.5% in FY26 from negative 3% the previous year.
The company is increasingly using a franchise-owned, company-operated model to expand with lower capital requirements.
Customer retention rose to 51%, while about 85% of members hold 12-month memberships.
- Who
- Cult.fit and its CEO, Naresh Krishnaswamy.
- What
- Cult.fit is planning expansion to as many as 100 cities and is preparing for a proposed IPO.
- When
- The expansion is planned over the next four to five years; the company filed its DRHP in July and the report was published on August 27, 2026.
- Where
- Cult.fit currently has a high concentration in India’s top four cities and plans to expand to additional cities.
- Why
- The company aims to grow its footprint, improve scale and profitability, and assess investor reception before setting its IPO timing.
- Expansion target
- As many as 100 cities
- Expansion period
- Next four to five years
- IPO status
- DRHP filed in July; timing has not been decided
- FY26 EBITDA margin
- About 8.5%, compared with negative 3% the previous year
- Customer retention
- 51%, up from the early 40% range two years earlier
- Annual memberships
- About 85% of members have 12-month memberships
- Expansion model
- Franchise-owned, company-operated centres