Managed workspace provider Incuspaze has completed the acquisition of coworking operator iKeva in a 100% buyout deal, marking a significant step in its expansion strategy across South India’s growing flexible workspace market.

The acquisition will add nearly 5 lakh square feet of workspace inventory across 18 centres in Hyderabad and Bengaluru, enhancing Incuspaze’s presence in two of India’s largest technology and startup hubs.

According to the company, the acquisition is expected to contribute approximately ₹100 crore in additional revenue, supporting its long-term objective of achieving ₹1,000 crore in revenue by FY29. Financial details of the transaction have not been disclosed.

The move comes amid growing demand for managed office spaces, coworking solutions, and flexible workspace infrastructure as enterprises increasingly adopt hybrid work models and scalable office solutions.

Industry experts believe the acquisition will strengthen Incuspaze’s market position while enabling the company to expand its enterprise client base across key commercial markets.

Hyderabad and Bengaluru continue to emerge as leading destinations for startups, Global Capability Centres (GCCs), technology firms, and multinational corporations, driving sustained demand for premium office and coworking spaces.

The acquisition also reflects a broader trend of consolidation within India’s flexible workspace sector, where operators are focusing on scale, operational efficiency, and long-term profitability.

With this strategic expansion, Incuspaze is expected to enhance its competitive positioning in the rapidly evolving commercial real estate and managed workspace industry.

Key Highlights

• 100% acquisition of iKeva by Incuspaze
• 5 lakh sq. ft. of workspace added
• 18 centres across Hyderabad and Bengaluru
• ₹100 crore projected additional revenue
• Supports ₹1,000 crore FY29 revenue target
• Strengthens position in India’s coworking and managed office market