Tablespace Technologies leases 5 lakh sq ft office space in Hyderabad for ₹163 crore
Tablespace Technologies Secures Major Hyderabad Office Expansion
Bharatmorningnews.com – Managed workspace solutions provider Tablespace Technologies Ltd has secured a substantial five-year lease for approximately 5.06 lakh square feet of office space in Hyderabad. According to property data compiled by Propstack, the arrangement carries a total rental commitment of roughly ₹163.3 crore.
The new lease officially began on July 1, 2026, spanning several floors distributed across two separate towers. With a monthly rental payment of about ₹2.84 crore, the company will meet its five-year financial obligation of ₹163.3 crore. Documentation reveals that Tablespace occupies three floors within Tower 5 and eight floors in Tower 6.
The lease agreement was executed with Laxmi Infobahn Software Technology Park LLP at a rate of ₹56 per square foot each month. Lease deed records indicate that Tablespace has already provided a security deposit amounting to ₹28.35 crore. The official registration of the lease document took place on June 27, 2026.
Under the terms of the agreement, rental rates will increase by 15 percent every three years. An email inquiry has been dispatched to Tablespace Technologies, and the report will be amended should the company provide a response.
Recent Corporate Developments
On August 11, Tablespace Technologies Ltd submitted draft documentation to the Securities and Exchange Board of India (Sebi) to initiate an Initial Public Offering. The proposed fundraising effort includes a fresh issue valued at ₹800 crore.
Earlier in the year, during May, the company broadened its Hyderabad managed office portfolio by nearly 5 lakh square feet. This expansion featured a significant transaction involving approximately 4 lakh square feet located at Grava Business Park within Kokapet's developing Neopolis business district, as confirmed in a company statement.
National Expansion Footprint
Tablespace Technologies has demonstrated consistent growth across multiple Indian cities. In March, the firm leased 1.45 lakh square feet of commercial property in Gurugram for a five-year period. The space, situated in the Godrej GCR building within Sector 42, was acquired from Munjal Hospitality Pvt Ltd at a starting monthly rent of ₹2.85 crore, based on property registration records reviewed by Propstack.
During the previous year, Table Space Technologies Private Limited secured a lease for 5.34 lakh square feet in Intellion Park, Sector 59, Gurugram. The monthly rental for this space stands at ₹3.47 crore, and according to property registration documents examined by real estate analytics firms Propequity and Propstack, the premises are slated for lease to technology giant Google.
The company also significantly strengthened its presence in Mumbai. On March 6, Table Space announced a 50 percent expansion of its Mumbai operations, growing its total footprint from 4.7 lakh square feet to 7 lakh square feet during fiscal year 2025.
Market Context
India's commercial real estate sector has experienced remarkable growth. A CBRE India report indicates that the country's office market achieved a record quarterly absorption of approximately 24.6 million square feet during the second quarter of 2026. This represents an 18 percent increase quarter-over-quarter and a 14 percent rise year-over-year. The period also witnessed a record 21.0 million square feet of new supply entering the market.
Delhi-NCR has solidified its position among the top three office leasing markets in India, joining Bengaluru and Pune. Together, these three regions account for approximately 58 percent of national office absorption.
Vandana Ramnani leads the real estate vertical at Hindustan Times Digital, where she brings more than twenty years of journalism expertise spanning real estate, education, human resources, and foreign affairs. She focuses on India's real estate sector, covering residential and commercial markets across Delhi-NCR, Mumbai, and Bengaluru. Her reporting encompasses regulatory developments, urban policy, housing trends, and interviews with prominent industry figures.
Ramnani's work has been featured in the Hindustan Times newspaper and HT Estates. Previously, she contributed significantly to establishing the real estate vertical at Moneycontrol under the NW18 Group, where she helped shape editorial direction and market coverage. Her extensive writing on international education for HT Education tracked global study destinations, policy modifications, and student mobility patterns, earning her the Singapore Education Award 2009 for Best Media Coverage in Print.
Her reporting portfolio encompasses human resources and employment trends for HT ShineJobs and PowerJobs, alongside lifestyle and interior design features for HT Premium Homes. Ramnani commenced her professional journey with the Press Trust of India, developing robust editorial and reporting capabilities. She subsequently received a distinguished fellowship at Fondation Journalistes en Europe in Paris, where she contributed to EuroMag.
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