• Incuspaze acquires TRIOS in a cash-and-stock deal to expand its coworking footprint in Pune and Gurugram.
• The deal is expected to boost Incuspaze’s revenue by 10–15%, supporting its  Rs350–400 Cr FY25–26 goal.
• Acquisition strengthens IPO roadmap and positions Incuspaze as a full-stack workspace

In a strategic acquisition to enhance its presence in the thriving flexible workspace business, Incuspaze has acquired Pune-based coworking player TRIOS on an all-cash and stock basis. The deal is expected to enhance Incuspaze's topline revenue by 10–15%, getting closer to its FY25–26 revenue goal of  Rs 350–400 crore.

This transaction strongly strengthens Incuspaze's foothold in Pune, a fastest-growing coworking market in India. It supports the company's vision to become an end-to-end workspace provider for GCCs and MNCs in key Indian cities. In the last one year, Incuspaze has already expanded its portfolio by 1.5 million sq. ft., which is being emphasized on clients in the multinational and GCC segments that are likely to be the growth drivers of the future.

Established in 2017, TRIOS has 12 coworking centres across Pune and Gurugram, with about 1.5 lakh sq. ft. of space on its management and supporting 125+ customers. It is spread across high-demand locations such as Kalyani Nagar, Baner, and Hinjewadi, supporting a combination of MNCs, MSMEs, and GCCs.

This deal broadens our geographic footprint with the creation of cost and experience efficiencies on all sides. TRIOS is a strategic and cultural fit, and their technology capabilities will strengthen our workplace experience roadmap," said Sanjay Choudhary, Incuspaze Founder & CEO.

As part of the agreement, the founding team of TRIOS will continue to be invested in enlarged leadership positions, with a seamless integration. The same pricing and service levels will be enjoyed by customers with further improvements on the way.

"This is a landmark moment to establish a PAN-India network of quality flexible workspaces," stated Sanjay Chatrath, Co-founder & Managing Partner at Incuspaze. "TRIOS' dominance in Pune adds to our national aspirations and unleashes strong synergies."

Pratik Potnis, Co-Founder of TRIOS, added, “We’re merging two aligned businesses to create greater value for customers and team members alike. With Incuspaze’s IPO roadmap, this deal also opens new possibilities for growth and wealth creation.”

This deal not only consolidates Incuspaze's position in Pune but also represents the trend towards consolidation in India's flexible workspace industry, particularly as companies prepare for public listings and expand across emerging GCC hubs.