Table Space Technologies plans to invest Rs 1,000 crore in the year 2023 24 to expand their operations by 4.5 million square feet. This comes after an expansion of 3.2 million feet, in the previous year which cost them Rs 800 crore. CEO Amit Banerji is spearheading this growth strategy aiming for an increase in revenue from Rs 1,140 crore, to Rs 1,800 crore.
Table Space Technologies, a leading managed workspace operator, is gearing up for significant expansion with an investment of Rs 1,000 crore in the fiscal year 2023-24.
The CEO, Amit Banerji, shared this exciting development, revealing that they plan to add approximately 4.5 million sq ft to their portfolio. Notably, in the preceding fiscal year 2022-23, their expansion efforts resulted in the acquisition of 3.2 million sq ft, a venture funded with Rs 800 crore. Banerji is optimistic about the revenue projections, expressing their anticipation of a rise from Rs 1,140 crore in 2022-23 to an impressive Rs 1,800 crore in FY23-24.
A significant boost to their expansion efforts comes from an injection of over $325 million secured from the esteemed global private equity fund, Hill House Capital. This strategic funding is slated to be deployed in two stages, facilitating Table Space’s expansion across pivotal office property markets in the country.
The company’s approach involves acquiring assets that are subsequently transformed into efficiently managed spaces. Notably, they are unveiling ‘TS Suites,’ a premium network of pre-built offices, tailored for short-term contracts, spanning their extensive national network.
Elaborating on the concept of ‘TS Suites,’ Banerji highlighted its role in addressing a distinct market demand for secure and compliant pre-built offices across the nation. With a core focus on technology integration, this initiative aims to streamline workspace management through an adaptable mobile app.
Banerji emphasized that this offering caters to businesses with varying needs, whether they require a hundred seats in a new city or want to explore new locations through strategic hiring. The innovative inclusion of tracking technology enables informed decisions backed by occupancy analytics, instilling confidence in office space decisions.
Looking ahead, Table Space has set its sights on acquiring assets in prominent locations such as Bengaluru, Gurgaon, Mumbai, and Pune. This forward-looking expansion strategy is geared toward surpassing an impressive milestone of 8 million sq ft by the conclusion of 2023.
Karan Chopra, the Chief Investment Officer at Table Space, underscored the uniqueness of ‘TS Suites,’ attributing its creation to the company’s extensive industry expertise. The offering, characterized by its emphasis on experiences, flexibility, and rapid plug-and-play solutions for businesses, is poised to redefine India’s market landscape.
Noteworthy achievements underscore Table Space’s prowess in managing custom-built workspaces that span an expansive 7 million sq ft. These spaces cater effectively to over 230 clients across India.
The company’s recent successes include leasing over 3 million sq ft of Grade-A commercial space in prominent projects like 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.
Operating across pivotal cities such as Bengaluru, Hyderabad, Mumbai, Pune, Delhi NCR, and Chennai, Table Space’s clientele includes industry giants like Google, Apple, AMD, Fujitsu, and Mastercard, showcasing their significant influence and presence in the market.
