Table Space Secures USD 100 Million for Major Asset Acquisitions in Key Urban Centers

Bengaluru:

Managed workspace provider Table Space has lined up a significant investment of $100 million (approximately ₹840 crore) to acquire office assets, starting with a notable ₹450 crore deal for 900,000 square feet of space in Pune, in collaboration with Panchshil Realty. This move marks the beginning of a series of acquisitions aimed at expanding Table Space’s footprint across India’s major urban centers.

Expanding Presence in Pune and Beyond

Table Space, which raised $325 million from Hill House Capital in 2022, is actively pursuing additional acquisitions. The company is currently in talks to acquire an extra 1.2 million square feet in Pune from Panchshil Realty. This acquisition is part of a broader strategy to build a robust portfolio of office assets in key cities. The company currently manages over 10.5 million square feet of operational assets across India.

For the Pune project, Table Space and Panchshil Group have formed an equally owned joint venture with ₹800 crore in equity. The new building, located in Pune’s Kharadi area, is expected to be completed by the third quarter of next year. Table Space also plans to expand its owned asset portfolio, Table Space Towers, by adding another 5 million square feet across India.

Lease-to-Ownership Strategy

Table Space is adopting a strategic lease-to-ownership model. Initially, the company plans to maintain an 80:20 lease-to-ownership ratio for its spaces, with plans to shift this to a 60:40 ratio as operations stabilize. This approach reflects a long-term vision of balancing leased and owned assets, supported by robust financial resources.

Ongoing Asset Evaluation and Expansion

The company’s asset acquisition strategy involves a comparative evaluation process to identify the most promising investments in various micro markets. While the company does not favor any specific city, it is currently assessing an asset in Bengaluru’s Whitefield market, a thriving area known for its commercial potential.

Table Space has established a presence in key markets including Mumbai, Bengaluru, Pune, Hyderabad, Chennai, Noida, and Gurugram, operating more than 60 centers across these cities. The company expects to generate revenue of ₹2,000 crore in the 12-month period ending September 2025. Currently, Table Space is leasing about 300,000 square feet of space each month, totaling approximately 3.5 million square feet annually.

Future Outlook

Table Space’s ongoing expansion efforts reflect its commitment to growing its market presence and asset portfolio in India’s key metropolitan areas. With substantial financial backing and a clear strategic vision, the company is well-positioned to continue its growth trajectory in the managed workspace sector.