Table Space plans to expand operations with Rs 1,000 crore investment, ET RealEstate

August 30, 2023

<p>Representative Image</p>
Representative Image

Managed workspace operator Table Space Technologies is set to invest Rs 1,000 crore in FY23-24 to expand by around 4.5 million sq ft, said CEO Amit Banerji.

During 2022-23, the company expanded its portfolio by 3.2 million sq ft, investing Rs 800 crore.

“With the expansion, we expect to take the revenue in FY23-24 to Rs 1,800 crore from Rs1,140 crore in 2022-23,” said Banerji.

Table Space recently raised over $325 million from global private equity fund Hill House Capital to expand its operations across key office property markets in the country. This investment is expected to be funded in two tranches.

The company has opted to acquire assets and subsequently turn them into managed spaces.

Additionally, the company is in the process of introducing ‘TS Suites’, a premium network of pre-built offices available on short-term contracts, spanning its nationwide network.

“TS Suites steps in to fill a void by establishing a network of top-tier, secure and compliant pre-built offices across the nation,” Banerji said.

A focal point will be technology, facilitating seamless workspace management through a versatile mobile app.

“Whether you need 100 seats in a new city or want to test the waters by hiring in a new location, we provide short-term solutions that allow businesses to stay ahead. Innovative tracking technology provides invaluable occupancy analytics, empowering you to make informed decisions on office space needs with confidence,” Banerji said.

Table Space is eyeing asset purchases in Bengaluru, Gurgaon, Mumbai and Pune as part of its expansion strategy to exceed 8 million sq ft of space by the close of 2023.

“Our rich background and expertise in this industry gave us the insights needed to create a premium offering that caters to a relevant market need. TS Suites is unique in terms of its focus on experiences, flexibility and rapid plug-and-play offering for businesses. It is a potent combination, the likes of which India has never experienced before,” said Karan Chopra, chief investment officer at Table Space.

Covering a substantial expanse of approximately 7 million sq ft, Table Space efficiently manages custom-built workspaces catering to more than 230 clients throughout India.

The company has leased more than 3 million sq ft of Grade-A commercial space in recent months in projects such as 1 Shobha and UBCity in Bengaluru, Gigaplex in Navi Mumbai, DLFCyber City Building 10 in Gurgaon, BPTP Capital City in Noida and Panchshil Business Park in Pune.

The company operates across cities like Bengaluru, Hyderabad, Mumbai, Pune, Delhi NCR and Chennai, and caters to companies like Google, Apple, AMD, Fujitsu and Mastercard, amongst others.

  • Published On Aug 30, 2023 at 05:29 PM IST

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