Coworking firm Incuspaze has acquired Hyderabad-based iKeva, a workspace operator with a strong presence in Hyderabad and Bengaluru, through a 100 per cent buyout transaction. The integration is expected to add around ₹100 crore to Incuspaze’s revenue in the current financial year.
iKeva has a portfolio of 5 lakh sq. ft. across Hyderabad and Bengaluru, spread across 18 centres. With the acquisition, Incuspaze plans to add another 5 lakh sq. ft. of office space during FY27. The integration is expected to unlock value through revenue synergies, enhanced technology capabilities, operational efficiencies and the standardisation of services across locations.
The acquisition has been funded through a combination of internal accruals and strategic financial resources. “It’s a mix of internal accruals and strategic financial resources available through our existing partners,” Sanjay Choudhary, Founder and CEO of Incuspaze, told businessline.
Choudhary said the acquisition aligns with the company’s long-term plan to go public within the next two to three years. “As we work towards our IPO aspirations, we are pursuing both organic and inorganic growth opportunities,” he said.
The company is targeting revenue of ₹1,000 crore by FY29.
Incuspaze has actively pursued acquisitions to strengthen its presence across key commercial markets. It previously acquired TRIOS and VSKOUT, expanding both its operational footprint and technology capabilities. More recently, the company strengthened its presence in western India through the acquisition of Million Minds at GIFT City, Gujarat, expanding into one of the country’s key financial and business districts.
Founded in 2016, Incuspaze operates across more than 50 locations in 18 cities, with a portfolio exceeding 4 million sq. ft. The company provides managed offices, coworking spaces, enterprise solutions, design-and-build services and customised workspace strategies for businesses across sectors.