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Flexible workspace provider Incuspaze has leased 3 lakh sq. ft. across three properties in Jaipur-The Edge, Sitapura Campus, and GT Landmark-marking a strategic expansion into Tier 2 markets. The move aligns with rising demand from GCCs and innovation-led companies. Jaipur's growing appeal lies in its infrastructure, affordability, and talent pool. Nationwide, flexible space operators leased 1.6 million sq. ft. in Tier 2 cities in 2023, with Jaipur seeing a 74% YoY leasing surge in Q1 2025. Incuspaze now operates in 18+ cities with a 4 million sq. ft. portfolio, aiming for INR 350-400 crore revenue in FY26 and an upcoming IPO.
Incuspaze, a prominent name in India's flexible office space sector, has expanded its operations in Jaipur by leasing three separate properties-The Edge on Tonk Road, Sitapura Campus in Sitapur, and GT Landmark in Malviya Nagar. Each of these assets comprises approximately 1 lakh sq. ft., bringing the total leased area to 3 lakh sq. ft. in the city. The initiative is a calculated step under the company's broader strategy to establish a stronger footprint in Tier 2 locations, aligning with the rising demand from enterprises, Global Capability Centres (GCCs), and innovation-focused companies. Advertisement
Sanjay Chatrath, Co-founder and Managing Partner at Incuspaze, remarked that Jaipur is increasingly emerging as a preferred choice for businesses seeking quality infrastructure, affordability, and access to talent. He noted that the surge in GCC activities beyond major metros had made cities like Jaipur essential to India's decentralised digital transformation. He highlighted the importance of Jaipur's commercial corridors, which are gaining popularity due to their connectivity and institutional infrastructure.
As part of its 2024 roadmap, Incuspaze entered top metros including Bengaluru, Chennai, Mumbai, and Pune, while also expanding its presence in Delhi NCR and Lucknow. Through these efforts, it added nearly 2 million sq. ft. to its national portfolio.
The leasing market in Jaipur has shown strong upward momentum, driven by constrained supply and increasing demand for Grade A office space. The nationwide trend supports this growth: India recorded 48.9 million sq. ft. in office leasing in H1 2025, primarily propelled by GCCs and flexible space operators. Tier 2 cities like Jaipur reported notable traction, with flexible space providers leasing 1.6 million sq. ft. across ten cities in 2023. Jaipur alone saw a 74 per cent year-on-year rise in leasing during Q1 2025, with increasing participation from large enterprises and multinational corporations.
Incuspaze currently operates in over 18 cities with a portfolio exceeding 4 million sq. ft., and aims to add another 2 million sq. ft. by the end of 2025. This year alone, it has already expanded by 1.7 million sq. ft. in Delhi NCR, Bengaluru, and Pune. Recently, the company acquired TRIOS Co-working, which holds a strong regional presence in Pune, adding 1.5 lakh sq. ft. across 12 centres in Pune and Gurugram. It also acquired VSKOUT, strengthening its tech capabilities and focus on the GCC segment.
Following these strategic additions and robust leasing activity, Incuspaze projects revenue of INR 350?400 crore in FY26 and is preparing for an IPO.
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