Managed workspace provider Table Space has announced a major investment of INR 840 crore (USD 100 million) to expand its office portfolio in India. The company has recently secured a INR 450 crore deal with Panchshil Realty for 900,000 square feet of space in Pune and is in talks to acquire an additional 1.2 million square feet from the same developer. Table Space plans to gradually shift its lease-to-ownership ratio from 80:20 to 60:40, aiming to have 40% of its assets owned. The company, which raised USD 325 million in 2022, is actively seeking more acquisitions to strengthen its presence in key urban centers across the country.
Managed workspace provider Table Space plans to invest INR 840 crore (USD 100 million) in office buildings, starting with its recent INR 450 crore deal with Panchshil Realty for 900,000 square feet of space in Pune.
The Bengaluru-based company, which raised USD 325 million in 2022 from Hill House Capital, is also in talks to acquire an additional 1.2 million square feet in Pune from Panchshil Realty, as part of its strategy to expand its office asset portfolio in key urban centers.
Table Space currently manages more than 10.5 million square feet of operational assets across India. For the Pune commercial project, Table Space and the Panchshil Group have an equally owned joint venture with INR 800 crore in equity.
Amit Banerji, the founder and CEO of Table Space, said the company is actively seeking more acquisitions. The acquired property in Kharadi, Pune, is expected to be completed by the third quarter of next year.
Table Space plans to add another 5 million square feet of space across India under its owned asset portfolio, Table Space Towers. The company aims to gradually shift from an initial lease-to-ownership ratio of 80:20 to a 60:40 ratio, with 60% being leased and 40% owned.
In the fourth quarter of 2022, Table Space raised USD 325 million from Hill House Capital and has been strengthening and expanding its operations and leadership team. The company has a presence in major metropolitan areas, including Mumbai, Bengaluru, Pune, Hyderabad, Chennai, Noida, and Gurugram, operating more than 60 centers.
Table Space expects to generate revenue of INR 2,000 crore in the 12-month period ending September 2025, leasing approximately 300,000 square feet every month, totaling roughly 3.5 million square feet per year.
Table Space's ambitious expansion plan reflects its strategic vision to capitalize on the growing demand for flexible and high-quality office spaces in India. By investing in owned assets and joint ventures, the company is positioning itself to become a dominant player in the managed workspace industry.
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