Your Weekly Dose of News from the Commercial Real Estate Industry
Incuspaze Secures $8M in Maiden Funding to Drive Expansion
Incuspaze , a leading workspace provider, has raised $8 million in its first funding round led by the India Inflection Opportunity Fund. The investment aims to enhance the company’s ability to deliver workspace solutions to businesses and startups across India.
Incuspaze has an extensive 3 million square feet portfolio across 18 cities and 44 locations. The company recently leased 220,000 square feet in Gurugram’s M3M India Private Limited Urbana project. Under the leadership of Sanjay Choudhary , it plans to expand its presence in southern India, targeting cities like Bengaluru, Chennai, and Hyderabad. Their notable clients include PhonePe , BYJU'S , Flipkart , and GirnarSoft , highlighting their growing market influence.
Incuspaze reported a threefold increase in operating revenue to Rs 50 crore in FY23, up from Rs 14.84 crore in FY22, and significantly reduced its losses to Rs 98 lakh from Rs 5 crore. With the demand for flexible office spaces hitting record highs in major cities, the company is well-positioned to capitalise on this trend. The strategic investment from IIOF suggests potential IPO plans, mirroring moves by competitors like Awfis Space Solutions Limited and Smartworks .
This fresh capital injection is set to drive Incuspaze’s ambitious expansion plans, enhancing its offerings in the booming co-working sector.
Innovative Lake Office in Bengaluru Eliminates Need for ACs
Picture working in a lush green environment with water features and no need for air conditioning. This is the case at the Titan Integrity office in Bengaluru, which Mindspace Architects designed. The office looks like a floating cruise ship and is an open-air campus that stays naturally cool due to its innovative design that blends in with the nearby lake and trees.
Mindspace Architects, founded by Sanjay Mohe, Vasuki Prakash, and Suryanarayanan, is known for blending nature with architecture. Their design philosophy focuses on creating spaces that enrich lives, using natural elements to ensure comfort. The Titan Integrity office, spanning 6.5 acres, features terrace gardens, natural ventilation, and panoramic views, making it a "nature campus."
This sustainable approach aligns with Titan's values of innovation and trust. The office's design incorporates natural materials and maximises natural light, providing a serene and productive environment. Mindspace Architects continues to innovate with new projects in Bhopal and Bhubaneswar, aiming to create spaces that stimulate the senses.
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65% of Grade A Office Space in Top Indian Cities Green-Certified
Indian real estate is rapidly embracing sustainability, with ESG factors gaining prominence. According to Vestian Research, over 65% of Grade A office space in India's top seven cities is green-certified. This includes 805 of the 1,362 Grade A buildings across these cities, with LEED certification holding a 74% market share.
Southern cities like Bengaluru, Chennai, and Hyderabad lead the green building movement, contributing 58% of India's green-certified stock. Bengaluru boasts 172 million square feet of green-certified space, while Chennai has the highest percentage at 83%. Despite being a major corporate hub, Pune lags with the lowest green certification at 56%.
Green-certified buildings command a rental premium, reflecting the market's reward for sustainable development. Bengaluru sees the highest premium at 23-25%, followed by Chennai and Hyderabad. This trend highlights India's real estate sector's growing emphasis on sustainability and environmental responsibility.
Most In-Demand Locations This Week-
Metro City : Delhi?
Micro-market : Connaught Place
Non-Metro City : Patna?
Micro-market : Ramkrishna nagar