Incuspaze  Strengthens Portfolio, Acquires TRIOS

New Delhi, June 24, 2025: Incuspaze, the country’s leading flexible office solutions provider, has acquired TRIOS to tap the growing demand of flexible workspaces in Pune.

In a 100 per cent acquisition with a cash and stock deal, the topline revenue will be up by 10–15 per cent, contributing towards Incuspaze’s target of INR 350-400 crore revenue for FY25-26.

Additionally, with the acquisition of office space of about 1.5 mn sq ft in last 12 months, Incuspaze is focussing on catering to Global Capability Centres (GCC) and MNCs, which will contribute largely to the projected revenue.

With the acquisition of TRIOS, Incuspaze strengthens its footprint in the high-demand Pune market, aligning with its ambition to become a full-stack workspace provider for MNCs and GCCs in all the preferred GCC locations.  The integration is expected to unlock substantial value through revenue synergies, advanced technology capabilities, operational efficiencies and the standardisation 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.

Founded in 2017, TRIOS operates coworking centres across key micro-markets in Pune, managing a portfolio 1.5 lakh sq ft managing 12 centres in Pune and Gurugram. With over 125 clientele, the company has established a strong presence in prime locations, including Kalyani Nagar, Baner and Hinjewadi. TRIOS caters to a diverse mix of MNCs, GCCs and MSMEs, offering a range of flexible workspace solutions tailored to evolving business needs.

“This acquisition will not only expand our regional footprint but also drive cost efficiencies and customer experience standardization across all locations. We see Trios as a natural cultural and strategic fit. Their tech capabilities will strengthen Incuspaze tech road map for workplace experience,” said Sanjay Choudhary, Founder and CEO, Incuspaze.

Post-acquisition, the founders of Trios will continue to be associated with Incuspaze in expanded roles, supporting the integration process. Customers from both companies can expect a seamless transition with enhanced offerings and no changes to pricing or service models.

Sanjay Chatrath, Co-founder and Managing Partner, Incuspaze, said, “This acquisition marks a pivotal step in our journey to build a PAN-India network of high-quality, flexible workspaces. TRIO’s stronghold in Pune complements our national expansion strategy, and this partnership will unlock synergies across operations, technology and customer experience.”

Pratik Potnis, Co-founder, TRIOS, said, “We are bringing together two complementary businesses that share the same values and vision. With this move, we aim to enhance the overall value proposition for our customers while expanding into new micro-markets in India.”

He added, “Incusapze’s IPO plans will enable our path towards wealth creation and broader vision for mid-size coworking players like us.”

The office market indicate GCCs leased about 52.88 mn sq ft of the 141.43 mn sq ft of office space in top seven cities over the last two years, accounting for a share of over 37 per cent share. GCCs are deploying not just in the top seven cities but also in various tier 2and 3 cities. To serve the increasing demand of office space by GCCs, Incuspaze’s strategic acquisition help to tap into emerging micro markets.

This move solidifies Incuspaze’s position as a dominant player in India’s coworking sector, expanding its national portfolio to over 50-plus locations across 18-plus cities. With plans for continued growth through both organic expansion and strategic acquisitions, the company is focused on accelerating its footprint in tier 1 and 2 cities.