Incuspaze, a managed workspace provider, has strengthened its position in important southern cities, namely Hyderabad and Bengaluru, by acquiring workspace operator iKeva through a 100% takeover deal.
According to Incuspaze, the purchase is anticipated to generate close to Rs 100 crore in revenue, supporting the company’s objective of attaining Rs 1,000 crore in revenue by FY29 through a combination of smart acquisitions, increased business occupancy, and organic growth.
As part of the agreement, Incuspaze will acquire iKeva’s 5 lakh square foot portfolio, which is distributed among 18 locations in Bengaluru and Hyderabad. During FY27, the company intends to add an additional 5 lakh square feet of office space.
Revenue synergies, increased operational effectiveness, enhanced technological capabilities, and service standardization across locations are all anticipated outcomes of the integration. Additionally, Incuspaze’s objectives for a possible IPO within the next 24 to 36 months are in line with the acquisition.
According to industry estimates, Global Capability Centers (GCCs) may be responsible for about 40% of India’s office space demand in the upcoming years. Hyderabad and Bengaluru are still among the top locations for international corporations looking to expand their operations in India.
The acquisition comes after Incuspaze’s previous acquisitions of TRIOS and VSKOUT, which increased its operational reach and improved its capacity for technology and market research. More recently, the company acquired Million Minds in GIFT City, Gujarat, strengthening its position in western India.
Established in 2016, Incuspaze has a portfolio of more than 4 million square feet and runs more than 50 locations in 18 cities. For companies in many industries, the company offers managed offices, coworking spaces, enterprise solutions, design-and-build services, and bespoke workspace solutions.
