Incuspaze Acquires iKeva in 100% Buyout, Targets ₹1,000 Crore Revenue Ahead of Planned IPO
Gurugram, June 8, 2026: Managed workspace provider Incuspaze has announced the 100% buyout acquisition of workspace operator iKeva. The strategic move significantly expands Incuspaze’s enterprise-grade capacity across Hyderabad and Bengaluru, putting the combined platform on a trajectory to surpass ₹1,000 crore in revenue over the next 24 to 36 months, the company said in a press release.
The transaction is set to immediately add close to ₹100 crore to Incuspaze’s top line, contributing directly to its targeted ₹1,000 crore revenue milestone for FY28–29. This growth is being propelled by aggressive organic expansion, rising enterprise occupancy, and tactical acquisitions. Through this buyout, Incuspaze absorbs iKeva’s existing 5 lakh square feet portfolio, which spans 18 centers across Hyderabad and Bengaluru. Looking ahead, Incuspaze plans to aggressively build on this momentum by adding another 5 lakh square feet of office space in FY27, specifically targeting a 1 million square foot expansion in Hyderabad.
The integration of the two companies is expected to unlock substantial value through revenue synergies, advanced technology capabilities, operational efficiencies, and the standardization of services across all operating locations. Crucially, the acquisition serves as a key foundational step as Incuspaze prepares for a potential Initial Public Offering (IPO) within the next 24 to 36 months.
Sanjay Choudhary, Founder & CEO of Incuspaze, highlighted the strategic importance of the deal, stating, “This acquisition will expand our regional footprint and drive cost efficiencies and customer experience standardization across all locations. As MNCs continue to expand their India footprint and GCCs emerge as a key driver of commercial real estate demand. iKeva has established a strong presence and deep understanding of the Hyderabad market creating a portfolio that aligns well with evolving occupier needs. Combined with Incuspaze’s national footprint and enterprise-focused approach, this acquisition strengthens our ability to deliver integrated, multi-city workspace solutions to businesses seeking flexibility, speed, and operational excellence.”
The deal comes at a turning point for India’s commercial real estate sector. Market demand is increasingly being dominated by Global Capability Centres (GCCs), multinational corporations, and large domestic enterprises looking for flexible, scalable, and technology-enabled workplace solutions. Industry estimates show that GCCs are projected to drive nearly 40% of India’s office space demand over the next few years, with Hyderabad and Bengaluru remaining the top choices for global corporations expanding their Indian operations.
This buyout is part of a broader, rapid expansion strategy executed by Incuspaze over the last 18 months to consolidate its presence in premier commercial markets. The company previously acquired TRIOS and VSKOUT to boost its operational scale and market intelligence. More recently, it expanded into Western India by acquiring Million Minds at GIFT City, Gujarat. To support this ongoing portfolio expansion, Incuspaze has also strengthened its leadership team, recently appointing Amit Ghoshal as Managing Director – Enterprise Sales.
