Incuspaze, a managed and coworking space provider, has acquired a 100% stake in Hyderabad-based iKeva. The acquisition is expected to add nearly ₹100 crore to Incuspaze's revenue and support its goal of reaching ₹1,000 crore by fiscal year 2029, according to inc42.com. Financial details of the deal were not disclosed.
Founded in 2012, iKeva offers flexible offices, coworking spaces, virtual offices, and meeting rooms across Hyderabad, Bengaluru, Mumbai, and Chennai. With this acquisition, Incuspaze will add 5 lakh square feet of workspace across 18 centres in Hyderabad and Bengaluru to its portfolio. Incuspaze also plans to expand its footprint by another 5 lakh square feet in fiscal year 2027. Sanjay Choudhary, founder and CEO of Incuspaze, said the deal will improve operational efficiency, strengthen technology capabilities, and standardise services across locations.
The acquisition expands Incuspaze's regional footprint amid growing demand from multinational corporations and global capability centres in India. The coworking sector has seen consolidation as providers aim to scale and improve cost efficiencies. Incuspaze currently operates more than 50 offices and is preparing for a potential initial public offering within the next 24 to 36 months, positioning itself as a significant player in the commercial real estate market.
Incuspaze's acquisition of iKeva adds 5 lakh square feet of workspace across 18 centres, with plans to expand by an additional 5 lakh square feet in fiscal year 2027, according to inc42.com.