Gurugram, 8th June, 2026 - Incuspaze, one of India's leading managed workspace providers, acquired iKeva, a workspace operator with a strong presence across Hyderabad and Bengaluru, through a 100% buyout transaction.
This acquisition will add close to 100 crores to Incuspaze revenue. Driven by a combination of organic expansion, increased enterprise occupancy, and strategic acquisitions, contributing towards Incuspaze’s target of ₹1000 crore revenue for FY28–29. iKeva has 5 Lakh sq. ft of portfolio across Hyderabad and Bangalore with 18 centres, which is acquired by Incuspaze and aims to add another 5 Lakh sq. Ft. office space in FY27. The integration is expected to unlock substantial value through revenue synergies, advanced technology capabilities, operational efficiencies, and the standardization of services across all locations. This move is also a strategic step as Incuspaze prepares for a potential IPO within the next 24 to 36 months.
Industry estimates indicate that GCCs are expected to account for nearly 40% of India's office space demand over the next few years, with Hyderabad and Bengaluru remaining among the most preferred destinations for global corporations establishing or expanding their India operations.
The acquisition comes at a crucial time for India's commercial real estate sector, where demand is increasingly being driven by Global Capability Centres (GCCs), multinational corporations, and large domestic enterprises seeking flexible, scalable, and technology-enabled workplace solutions.
Over the past 18 months, Incuspaze has actively pursued growth to strengthen its presence across key commercial markets. The company acquired TRIOS and VSKOUT, expanding its operational footprint and enhancing its technology and market intelligence capabilities. Recently, Incuspaze strengthened its presence in western India through the acquisition of Million Minds at GIFT City, Gujarat, further expanding its reach into one of the country's most strategically important financial and business districts.
