Table Space’s Ambitious Expansion To Invest Rs 1,000 Crore to Shape India’s Office Space Sector.

Table Space Technologies, a prominent managed workspace operator, is gearing up for an expansive leap with a substantial Rs 1,000 crore investment in the fiscal year 2023-24. 

 

This strategic move, set to add around 4.5 million sq ft to its portfolio, reflects the company’s determination to meet the demands of the ever-changing business environment and reshape the office space paradigm in India. 

With a focus on flexibility, innovation, and a premium office experience, Table Space aims to position itself as a leader in flexible workspaces.

Steady Growth 

In the preceding year, Table Space displayed its mettle by expanding its portfolio by an impressive 3.2 million sq ft, bolstered by an investment of Rs 800 crore. 

This surge in growth numbers reflects the company’s aim to provide adaptable workspace solutions that cater to modern business dynamics. 

Amit Banerji, CEO of Table Space Technologies, leads this charge, whose strategic vision aims to not only take on the challenges posed by the global recession and tech layoffs but also capitalize on these shifts.

Expanding Horizons and Revenue Projections

The projected investment of Rs 1,000 crore in the upcoming fiscal year signifies Table Space’s determination to scale its operations and impact significantly. 

Amit Banerji expects this expansion to drive the company’s revenue from Rs 1,140 crore in the past fiscal year to an impressive Rs 1,800 crore in FY23-24. 

Strategic Investment and Innovative Offerings

The recent injection of over $325 million from the global private equity fund Hill House Capital serves as a catalyst for Table Space’s ambitious expansion plans. 

The infusion of capital will fund the company’s growth in two tranches, enabling it to acquire and transform assets into managed spaces. 

Furthermore, Table Space is introducing ‘TS Suites,’ a premium network of pre-built offices available on short-term contracts. This initiative, a response to market needs, seeks to provide top-tier, secure, and compliant workspace solutions nationwide.

Technology as a Cornerstone

Central to Table Space’s strategy is the infusion of technology to streamline workspace management. 

The company envisions a versatile mobile app that empowers clients to manage their workspace requirements effortlessly. This technological approach not only ensures seamless operations but also equips businesses with occupancy analytics, allowing informed decisions regarding office space needs.

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

Recently, Tablespace Leased 1 lakh sq ft office space in Pune to expand its operation.

The deal includes a rent-free period and a five-year lock-in period, the office will be up in Amar tech park, Balewadi Pune marking it as the seond large deal closed recenlty ; the firm has taken 4.58 lakh sq ft in Whitefield earlier this year.

“The development needed to adhere to health & safety standards, have advanced security, and modern-day amenities. The team was met with the challenge of a supply crunch at the high-in-demand micro market due to its cost-effectiveness and close proximity to residential catchments and recreational hubs. Despite the bottlenecks, the team at Colliers leveraged their combined expertise and robust industry relations to transact the space”, said Animesh Tripathi, Managing Director, Pune at Colliers Colliers India.

Real estate advisor Colliers acted as the advisor to the deal. In Pune, Table Space currently has nearly 1.2 million sq ft of integrated managed offices in Pune, with properties in prime areas of Balewadi, Kharadi, Viman Nagar, and Yerwada.

The recent additions to its portfolio, Table Space operates and manages over 6 million sq ft that can accommodate over 60,000 people.

As the market peers into 2023 amidst a looming global recession, and ongoing layoffs by tech companies, the It/ITes companies are likely to increase their space take up in flex spaces as they offer flexible lease terms and aid cost control.

The Last Bit, Table Space Technologies’ ambitious expansion plans represent more than just growth; they signify a commitment to redefine the way businesses perceive and utilize office spaces. 

As the company strives to exceed 8 million sq ft of space by the end of 2023, its unique blend of flexibility, innovation, and technology is poised to revolutionize workspace dynamics. 

With a prestigious clientele that includes giants like Google, Apple, AMD, and Microsoft, Table Space is positioned to be a trailblazer in the realm of managed workspaces, setting a benchmark for excellence and adaptability in an ever-evolving corporate sector.