Table Space to expand with Rs 10 billion investment

Table Space Technologies, the managed workspace operator, has announced its plans to invest Rs 10 billion in FY23-24 for expanding by approximately 4.5 million sq ft, according to Amit Banerji, CEO. During the previous fiscal year, 2022-23, the company extended its portfolio by 3.2 million sq ft, with an investment of Rs 8 billion.

Banerji stated that, "With this expansion, we anticipate our revenue in FY23-24 to reach Rs 18 billion, up from Rs 11.4 billion in 2022-23."

Table Space recently secured over $ 325 million from the global private equity fund Hill House Capital to extend its operations in key office property markets within the country. This investment is expected to be provided in two installments. The company has chosen to acquire assets and then convert them into managed spaces.

Furthermore, the company is currently in the process of introducing 'TS Suites,' a premium network of pre-built offices available on short-term contracts across its nationwide network.

Banerji explained, "TS Suites aims to address a gap by establishing a network of high-quality, secure, and compliant pre-built offices nationwide."

Technology will play a pivotal role in this endeavour, enabling seamless workspace management through a versatile mobile application.

Banerji added, "Whether you require 100 seats in a new city or wish to explore hiring in a new location, we offer short-term solutions that empower businesses to stay ahead. Innovative tracking technology provides essential occupancy analytics, empowering you to make well-informed decisions regarding office space requirements with confidence."

As part of its expansion strategy to surpass 8 million sq ft of space by the end of 2023, Table Space is considering asset acquisitions in Bengaluru, Gurgaon, Mumbai, and Pune.

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