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IndiQube Spaces Ltd has signed a leasing agreement with a foreign firm to provide 1,140 desks at its co-working facility, IndiQube Orchid, in Pune. The client is establishing a Global Capability Centre (GCC), with the deal valued at approximately INR 54 crore over a five-year tenure. The workspace is spread across multiple floors within the facility. The transaction reflects continued demand for flexible office solutions from multinational firms setting up GCCs in India. IndiQube, which was listed on stock exchanges in the past year, currently operates across 17 cities with a portfolio exceeding 9.55 million sq ft under management.
IndiQube Spaces Ltd has leased 1,140 desks at its co-working facility, IndiQube Orchid, in Pune to a foreign company establishing a Global Capability Centre (GCC), with the agreement expected to generate rental income of approximately INR 54 crore over a five-year period, according to a regulatory filing made in the past week. The transaction highlights sustained demand for flexible office space from multinational occupiers expanding their presence in India. Advertisement
The leased workspace is spread across multiple floors within the IndiQube Orchid facility, indicating a large-format requirement aligned with enterprise-level occupancy. The client, described as a leading GCC operator, is setting up a dedicated centre to support its global operations, reflecting the continued growth of India as a hub for capability centres.
The deal structure, covering 1,140 desks, suggests a managed workspace arrangement tailored to corporate requirements, offering scalability and operational flexibility. Such transactions are becoming increasingly common as companies opt for flexible office formats instead of conventional long-term leases, particularly when establishing or expanding GCCs.
IndiQube stated that the total value of the agreement stands at around INR 54 crore over a five-year tenure, providing visibility on rental income from the asset. The long-term nature of the contract indicates stable occupancy and revenue generation for the company in a competitive flexible workspace market.
The Pune office market has emerged as a key destination for GCCs, supported by its established IT ecosystem, availability of skilled talent, and relatively lower occupancy costs compared to larger metropolitan markets. The addition of new GCC facilities continues to drive demand for both conventional office spaces and managed workspaces.
IndiQube Spaces, which was listed on stock exchanges in the past year, has been expanding its footprint across major Indian cities. The company currently operates in 17 cities, with more than 9.55 million sq ft of workspace under management. Its portfolio includes a mix of enterprise-managed offices and co-working facilities catering to a wide range of occupiers.
The latest leasing transaction reflects broader trends in the commercial real estate sector, where flexible workspace providers are increasingly partnering with large corporates to deliver customised office solutions. The growth of GCCs in India has been a key demand driver, with multinational firms continuing to establish and expand centres across major office markets.
With occupiers prioritising flexibility, scalability, and operational efficiency, managed workspace operators such as IndiQube are witnessing increased traction from large enterprises seeking to optimise their real estate strategies.
Source - PTI
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