Realty firm Incuspaze has acquired iKeva, a coworking company, to expand its business amid rising demand for flexible workspaces.
Established in 2016, Incuspaze provides shared office space on sub-lease to enterprises, and has presence in more than 50 locations in 18 cities with a portfolio of over 4 million square feet.
The firm acquired through a 100 per cent buyout transaction has a strong presence across Hyderabad and Bengaluru.
Incuspaze did not disclose the deal value. However, in a statement, it said that the acquisition will add close to Rs 100 crore to its annual revenue.
The company has a target of achieving Rs 1,000 crore revenue in 2028-29. iKeva has 5 lakh sq ft of portfolio across Hyderabad and Bangalore with 18 centres.
The acquisition is also a strategic step towards a potential IPO (initial public offering) within the next 24 to 36 months.
"This acquisition will expand our regional footprint and drive cost efficiencies and customer experience standardisation across all locations," Incuspaze founder-CEO Sanjay Choudhary said.
He said multinational corporations continue to expand their India footprint, and GCCs (global capability centres) have emerged as a key driver of commercial real estate demand.
"This acquisition strengthens our ability to deliver integrated, multi-city workspace solutions to businesses seeking flexibility, speed, and operational excellence," Choudhary said.
Over the past 18 months, Incuspaze said it has actively pursued growth to strengthen its presence across key commercial markets.
The company acquired TRIOS and VSKOUT, expanding its operational footprint and enhancing its technology and market intelligence capabilities.
According to real estate consultant Colliers, India's coworking space market is poised for decisive growth over the next 2-3 years, with total stock across the top seven cities expected to surpass 100 million square feet by 2027, up from 72.3 million square feet in 2025.
