Incuspaze Acquires iKeva in 100% Buyout ; eyes Rs 1000 cr revenue by FY29
Hyderabad, June 8 (TNT): Incuspaze, one of India’s leading managed workspace providers, has acquired workspace operator iKeva through a 100 per cent buyout transaction, a move expected to strengthen its presence in key commercial markets and support its target of achieving ₹1,000 crore revenue by FY2028-29.
The acquisition is expected to contribute nearly ₹100 crore in additional revenue and accelerate the company’s growth through a combination of organic expansion, increased enterprise occupancy and strategic acquisitions.
iKeva operates approximately 5 lakh square feet of managed workspace across Hyderabad and Bengaluru through 18 centres.
Following the acquisition, Incuspaze plans to add another 5 lakh square feet of office space by FY27, significantly expanding its footprint in the two major technology hubs.
The transaction also forms part of Incuspaze’s preparations for a potential initial public offering (IPO) over the next 24 to 36 months.
Sanjay Choudhary, Founder and CEO of Incuspaze, said the acquisition would enhance the company’s regional presence while improving operational efficiencies and standardising customer experience across locations.
“This acquisition will expand our regional footprint and drive cost efficiencies and customer experience standardisation across all locations. iKeva has built a strong presence in Hyderabad and developed a portfolio that aligns well with evolving occupier requirements,” he said.
Choudhary said the acquisition would strengthen Incuspaze’s ability to provide integrated, multi-city workspace solutions to enterprises seeking flexibility, speed and operational excellence.
Industry estimates indicate that Global Capability Centres (GCCs) are expected to account for nearly 40 per cent of India’s office space demand in the coming years, with Hyderabad and Bengaluru remaining preferred destinations for multinational corporations expanding their India operations.
The acquisition comes amid rising demand for flexible and technology-enabled workspaces from GCCs, multinational companies and large domestic enterprises.
Over the past 18 months, Incuspaze has pursued an aggressive expansion strategy through acquisitions, including TRIOS and VSKOUT, which strengthened its operational footprint and technology capabilities.
The company also recently expanded its presence in western India through the acquisition of Million Minds at GIFT City, further strengthening its position in one of India’s emerging financial and business hubs.
In addition, Incuspaze has strengthened its leadership team with the appointment of Amit Ghoshal as Managing Director – Enterprise Sales as it prepares for its next phase of growth.
TNT TS
