Mujtabha Magrey, COO and Head of Fitness Services, Cult.fit
Fitness chain Curefit, which operates the Cult.fit brand, is set to turn profitable by the end of this year, riding on aggressive expansion through franchises and new category bets such as Pilates and sports-led fitness formats.
“The fitness services business is already profitable. The company as a whole will be profitable by the end of the year,” said Mujtabha Magrey, COO and Head of Fitness Services, Cult.fit, adding that the focus remains on sustaining 30 per cent annual growth while preserving customer experience. Curefit currently operates 700 centres across 40 cities, with nearly 85 per cent of its revenue still coming from the top four metros.
The company has seen a strategic shift since 2021, moving from a fully company-owned model to a franchise-heavy network.
“In 2020, 100 per cent of our gyms were company-owned. Today, two-thirds are partner-owned — a strategic shift that has allowed us to scale faster without diluting experience. Our partners are highly engaged, maintain a high bar for customer experience and have a deep understanding of the markets they operate in. This is what ensures there is no delta between partner-led and company-run centres from a consumer perspective,” said Magrey.
Expansion into tier-2 and tier-3 cities is now a priority. “Growth in the next few years is going to be not only in the top four cities but in the next 10 and the next 50 cities,” the executive said. Kolkata, Lucknow, Jaipur and Chandigarh are on the near-term rollout list. The company plans to add 150 centres annually, in line with its 30 per cent growth guidance.
Curefit is also betting on new formats to deepen engagement. It recently launched Pilates Circle by Cult, a standalone Pilates studio chain, and is expanding its sports business with pickleball courts, swimming facilities and badminton arenas. “Our mission is to get India moving. Pilates is one way, but we’re equally focused on driving fitness through sports and beyond,” he said.
Retention remains a critical metric, with the company claiming active member retention of about 65 per cent. “Our priority as we open more stores is that people actively work out post purchase,” Magrey added.
On the revenue side, two-thirds come from gym services, while the rest flows from fitness products, including athleisure, footwear and equipment. The company said its store-level operations are cash flow positive from day one, aided by pre-sales before launch.
With profitability in sight and a diversified playbook spanning gyms, sports and products, Curefit is positioning itself as the country’s largest integrated fitness ecosystem — even as it prepares the ground for a potential public listing.
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Published on September 6, 2025