Tablespace leases 500,000 sq ft Hyderabad office space for ₹163 crore

The coworking space provider will pay Rs 163 crore in rent over five years for 506,251 sq ft in Hyderabad's Laxmi Infobahn Software Park, documents show

Initial public offering (IPO)-bound coworking space provider Tablespace Technologies has leased 500,000 square feet of commercial space in Hyderabad for a period of five years for a total rent of ₹163 crore.

 

According to transaction documents accessed by Propstack, the company will pay rent for a chargeable area of 506,251 square feet, putting the monthly rent rate at ₹56 per square foot.

 

The company is taking space in towers 5 and 6 of the industry parks situated in Hyderabad’s Laxmi Infobahn Software Park, which also houses tenants like Capgemini, Cognizant and Alstom.

 

Tablespace has paid a security deposit of ₹28.35 crore, the lease deed document showed. The lease document was registered on June 27, 2026.

   

The agreement will be applicable for five years, with the rent escalating by 15 per cent every three years.

 

The deal comes after the firm filed draft papers with markets regulator Securities and Exchange Board of India (Sebi) to raise funds through an IPO, comprising a fresh issue of ₹800 crore.

 

In May this year, the company had expanded its Hyderabad managed office space portfolio by nearly 500,000 square feet, including a transaction of around 400,000 square feet at Grava Business Park in Kokapet’s emerging Neopolis business district.

 

Tablespace has also leased 145,000 square feet of commercial space in Gurugram’s Godrej GCR building at a starting monthly rent of ₹285 crore in March this year.

 

This followed a deal for over 500,000 square feet of office space at Tata Realty and Infrastructure’s Intellion Park in Sector 59, Gurugram, in 2025.

 

Tablespace’s Hyderabad lease comes at a time of continued demand for office space in India’s tier-I cities.

 

According to a report by consultancy firm CBRE India, office absorption in India reached a record quarterly level of around 24.6 million square feet in Q2 (April to June) 2026.