Flexible workspaces: Incuspaze acquires iKeva to expand in Hyderabad and Bengaluru

Realty firm Incuspaze has bought coworking company iKeva in a 100 per cent buyout. The move came as demand rose for flexible workspaces. Incuspaze said the deal will widen operations in Hyderabad and Bengaluru. The company did not share the deal value. Incuspaze also linked the purchase to a possible IPO plan.

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Incuspaze said the iKeva acquisition should add close to Rs 100 crore yearly. The company has set a goal of Rs 1,000 crore revenue in 2028-29. It said an initial public offering could follow within 24 to 36 months. The purchase is part of an inorganic growth strategy.

Incuspaze acquisition of iKeva: portfolio and city presence

Founded in 2016, Incuspaze offers shared office space on a sub-lease basis. It operates in more than 50 locations across 18 cities. The company said its portfolio is over 4 million square feet. iKeva adds another 5 lakh sq ft across Hyderabad and Bangalore. iKeva runs 18 centres.

Incuspaze said iKeva has a strong base in Hyderabad and Bengaluru. The added scale is expected to support regional operations. The company has positioned the transaction as a way to align service delivery. It also aims to manage costs better across locations. Incuspaze did not give further transaction details.

Incuspaze acquisition of iKeva: leadership comments and demand drivers

Incuspaze founder-CEO Sanjay Choudhary said, "This acquisition will expand our regional footprint and drive cost efficiencies and customer experience standardization across all locations.\" Choudhary also said multi-national corporations are increasing operations in India. Choudhary said GCCs global capability centres are driving commercial real estate demand.

Choudhary said, \"This acquisition strengthens our ability to deliver integrated, multi-city workspace solutions to businesses seeking flexibility, speed, and operational excellence,\" Choudhary said. Incuspaze linked this need to large firms seeking quicker set-ups. It also pointed to demand for consistent service across cities. The company expects the combined network to support such clients.

Incuspaze acquisition of iKeva: earlier deals and market outlook

Over the past 18 months, Incuspaze said it has looked for growth in key business markets. It acquired TRIOS and VSKOUT during this period. The company said these buys grew its operational footprint. It also said they improved technology use and market intelligence capabilities. The iKeva deal continues that expansion push.

Colliers said India’s coworking space market is set for strong growth in 2-3 years. The consultant expects stock in the top seven cities to cross 100 million square feet by 2027. That would be up from 72.3 million square feet in 2025. Incuspaze said the iKeva buy fits this rising demand trend.

With inputs from PTI