Business EconomyPosted at: Jun 8 2026 5:06PM


Incuspaze acquires iKeva in 100pc buyout, plans to add 1 mn sq ft office space in Hyderabad

Hyderabad, June 8 (UNI) Managed workspace provider Incuspaze on Monday said it has acquired workspace operator iKeva through a 100 per cent buyout transaction, strengthening its presence in the fast-growing flexible office space market.
The acquisition is expected to add nearly Rs 100 crore to Incuspaze's revenue and support the company's ambitious target of achieving Rs 1,000 crore revenue by FY 2028-29 through a combination of organic growth, higher enterprise occupancy and strategic acquisitions.
iKeva operates a portfolio of approximately 5 lakh sq. ft. across Hyderabad and Bengaluru through 18 centres.
Following the acquisition, Incuspaze plans to add another 5 lakh sq. ft. of office space by FY27, taking its expansion plans in Hyderabad and other key markets to the next level.
The acquisition also marks a strategic step as Incuspaze prepares for a potential Initial Public Offering (IPO) over the next 24-36 months.
In a statement, Sanjay Choudhary, Founder and CEO of Incuspaze, said the acquisition would strengthen the company's regional footprint while improving operational efficiencies and standardising customer experience across locations.
He noted that the growing presence of multinational corporations and the rapid expansion of Global Capability Centres (GCCs) are reshaping demand in India's commercial real estate sector.
According to him, iKeva's strong market position in Hyderabad complements Incuspaze's national network and enterprise-focused strategy, enabling the combined entity to offer integrated, multi-city workspace solutions to businesses seeking flexibility and scalability.
Industry estimates suggest GCCs could account for nearly 40 per cent of India's office space demand in the coming years, with Hyderabad and Bengaluru remaining among the most preferred destinations for global corporations expanding their India operations.
The acquisition comes amid rising demand for flexible, technology-enabled workplaces from GCCs, multinational companies and large domestic enterprises.
Over the past 18 months, Incuspaze has accelerated its expansion strategy through acquisitions, including TRIOS and VSKOUT, enhancing both its operational footprint and technology capabilities.
The company also recently expanded its presence in western India by acquiring Million Minds at GIFT City, one of the country's key financial and business hubs.
In addition to expanding its portfolio, Incuspaze has strengthened its leadership team with the appointment of Amit Ghoshal as Managing Director – Enterprise Sales.
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