Tablespace Technologies secures a substantial lease of 500,000 square feet in Hyderabad, signalling aggressive expansion as it prepares for an IPO and amid rising office demand in India’s top cities.
Tablespace Technologies, the coworking space provider preparing for a stock market listing, has leased 500,000 square feet of office space in Hyderabad for five years in a deal valued at ₹163 crore, according to transaction documents reviewed by Propstack. The agreement covers a chargeable area of 506,251 square feet in towers 5 and 6 of Laxmi Infobahn Software Park, where tenants include Capgemini, Cognizant and Alstom.
The documents show that Tablespace will pay monthly rent of about ₹56 per square foot and has already placed a security deposit of ₹28.35 crore. The lease was registered on June 27, 2026 and includes a 15% rent increase every three years.
The Hyderabad agreement comes shortly after Tablespace filed draft papers with the Securities and Exchange Board of India for an initial public offering that includes a fresh issue of ₹800 crore. It also follows a period of rapid expansion in the city: in May, the company added nearly 500,000 square feet to its managed-office portfolio, including about 400,000 square feet at Grava Business Park in Kokapet’s Neopolis district.
Tablespace has also been widening its footprint in Gurugram. In March, it leased 145,000 square feet at Godrej GCR, and in 2025 it signed for more than 500,000 square feet at Tata Realty and Infrastructure’s Intellion Park in Sector 59. The latest Hyderabad transaction lands as demand for office space remains strong in India’s top cities, with CBRE India saying office absorption reached a record quarterly level of about 24.6 million square feet in the April-to-June period of 2026.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
