Flexible office solutions provider Incuspaze acquires TRIOS to expand operations in Pune

In a bid to strengthen its presence in the flexible office space market, Incuspaze has acquired TRIOS, a Pune-based coworking operator, through a 100% acquisition structured as a cash-and-stock deal.

The move is expected to boost Incuspaze’s topline revenue by 10 to 15%, pushing it closer to its target of Rs 350–400 crore in revenue for FY25–26.

Over the past 12 months, the company has also added approximately 1.5 million square feet of office space to its portfolio. This expansion is geared primarily toward serving Global Capability Centres (GCCs) and multinational corporations, segments that Incuspaze believes will drive a significant portion of its projected revenue growth.

With the acquisition of TRIOS, Incuspaze strengthens its footprint in the high-demand Pune market, aligning with its ambition to become a full-stack workspace provider for MNCs and Global Capability Centers (GCCs) in all the preferred GCC locations. This move is also a strategic step as Incuspaze prepares for a potential IPO within the next 24 to 36 months.

Founded in 2017, TRIOS operates coworking centres across key micro-markets in Pune, managing a portfolio 1.5 lakh sq. ft. managing 12 centres in Pune and Gurugram. With over 125 clientele, the company has established a strong presence in prime locations including Kalyani Nagar, Baner, and Hinjewadi. Trios caters to a diverse mix of MNCs, GCCs, and MSMEs, offering a range of flexible workspace solutions tailored to evolving business needs.

“This acquisition will not only expand our regional footprint but also drive cost efficiencies and customer experience standardization across all locations. We see Trios as a natural cultural and strategic fit. Their tech capabiites will add stengrthen Incuspaze tech roadmap for workplace expericence,” said Sanjay Choudhary, Founder & CEO of Incuspaze.

Post-acquisition, the founders of Trios will continue to be associated with Incuspaze in expanded roles, supporting the integration process. Customers from both companies can expect a seamless transition with enhanced offerings and no changes to pricing or service models.

Sanjay Chatrath, Co-founder & Managing Partner said, “This acquisition marks a pivotal step in our journey to build a PAN-India network of high-quality, flexible workspaces. Trios’ stronghold in Pune complements our national expansion strategy, and this partnership will unlock synergies across operations, technology, and customer experience.”

Pratik Potnis, Co-Founder, TRIOS added, “We are bringing together two complementary businesses that share the same values and vision. With this move, we aim to enhance the overall value proposition for our customers while expanding into new micro-markets in India. Incusapze’s IPO plans will enable our path towards wealth creation and broader vision for mid-size coworking players like us.”