Incuspaze Buys TRIOS To Boost Revenue and Pune Presence

27 Jun 2025 CW Team

Managed-workspace provider Incuspaze has acquired smaller rival TRIOS in a cash-and-stock transaction, strengthening its foothold in Pune at a time when flexible-office operators eye the next wave of demand in non-metropolitan markets. The deal supports Incuspaze’s plan to lift operating revenue to between Rs 3.5 billion and Rs 4 billion in the year to March 2026 as global capability centres and multinational firms expand.

Founded in 2015 by Pratik and Tejasa Potnis, TRIOS runs ten coworking hubs in Pune and two in Gurugram, serving more than 125 clients. Incuspaze, launched a year later by Sanjay Choudhary, now spans 33 sites across 18 Indian cities and counts PhonePe, Flipkart and Health Prime among its tenants.

The tie-up comes as listed competitor Awfis predicts that tier-two cities will supply nearly 30 per cent of India’s flex-space stock by 2028-29, driven by enterprises seeking lower costs and fresh talent pools. Incuspaze itself signalled its growth ambitions last November, when it said it hoped to raise about USD 25 million (roughly Rs 2.11 billion) in a pre-IPO round.

Operationally, the Gurgaon-based firm turned profitable in FY24, posting a net surplus of Rs 15 million after a Rs 9.8 million loss the year before. Revenue jumped 77 per cent to Rs 883 million from Rs 499 million. FY25 results are yet to be filed.

Industry analysts forecast India’s coworking market will rise from about USD 2 billion in 2025 to USD 2.9 billion by 2030, buoyed by soaring office rents and a surge of new-age companies. Several operators, including Smartworks, DevX and IndiQube, have already lodged draft prospectuses, while WeWork India’s proposed listing remains on hold.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..