Japanese E-Commerce Firm Leases 35000 Sq Ft on ORR
Managed workspace provider IndiQube Spaces Limited has signed a Rupees 52 crore managed office deal with a leading Japanese e-commerce company for around 35,000 square feet in Bengaluruโs Outer Ring Road, the company said in a statement on April 15, 2026. The five-year mandate will support the clientโs India operations with a fully managed, enterprise-grade workspace. IndiQube is a co-working space platform offering managed office solutions tailored to startups, Global Capability Centres, and large enterprises. The company was listed on the stock exchange last year, has a presence in 17 cities and manages over 9.55 million square feet. The transaction comes at a time when Indiaโs flex office market has crossed 100 million square feet, with enterprises increasingly adopting managed workspaces as a strategic lever for faster expansion, operational flexibility and talent access.
Outer Ring Road in particular remains one of the most preferred office corridors for global companies building operations in India, given its concentration of technology campuses, corporate ecosystems, and access to skilled talent. Flexible office space in India crossed the 100 million square feet mark, with total inventory tripling between 2020 and 2025 to reach 110 to 114 million square feet, growing at a 23 to 25 percent Compound Annual Growth Rate over the past five years. The sector now comprises over 500 operators across nearly 2,600 unique centres. Bengaluru led as the largest flexible workspace market with 30 to 32 million square feet of stock, followed by Delhi National Capital Region at 21 to 23 million square feet. Pune follows with 13.6 to 14.6 million square feet, driven by sectors such as Information Technology, technology and software development, Banking Financial Services and Insurance, and Engineering and Manufacturing.
Rishi Das, co-founder and Chief Executive Officer, IndiQube Spaces Limited, said the transaction reflects how global e-commerce firms are rethinking workplace strategies in India. He noted that for Global Capability Centres, office spaces are increasingly seen as strategic enablers of collaboration, culture, and execution rather than just physical infrastructure. Meghna Agarwal, co-founder, IndiQube Spaces Limited, said that global enterprises are seeking workplaces that are operationally seamless, highly customised, and aligned with brand identity. โThis is especially true for digital and consumer internet companies where team structures can evolve quickly, and employee experience matters deeply. Our focus has been on building a platform that combines customization, operational excellence, hospitality, and technology to exactly serve these requirements,โ she said.
Portfolio Growth
Earlier, the company had signed a workspace leasing agreement with a leading Global Capability Centre client in Pune for 1,140 seats, valued at Rupees 54 crore. According to a statement issued on March 20, the client leased the seats at the companyโs IndiQube Orchid property in Yerwada for a five-year term. According to the company’s statement, the Global Capability Centre client leased the space for 5 years. The company said that 40 percent of its portfolio is in leasing to Global Capability Centres. Flexible workspaces provider IndiQube Spaces filed for Rupees 850 crore Initial Public Offering. The latest Bengaluru deal adds 35,000 square feet on Outer Ring Road to its managed inventory, strengthening presence in Indiaโs largest flex market.
Sector Trends
The transaction comes as Indiaโs flex office market has crossed 100 million square feet, with enterprises increasingly adopting managed workspaces as a strategic lever for faster expansion, operational flexibility and talent access. Bengaluru is the largest flexible workspace market with 30 to 32 million square feet of stock. Delhi National Capital Region follows with a stock of 21 to 23 million square feet and witnesses demand from sectors such as Information Technology, technology and software development, Banking Financial Services and Insurance, and Business Consulting and Professional Services. Puneโs market is driven by sectors such as Information Technology, technology and software development, Banking Financial Services and Insurance, and Engineering and Manufacturing. Outer Ring Road remains one of the most preferred office corridors for global companies building operations in India due to technology campuses, corporate ecosystems, and access to skilled talent.
Image Courtesy: Hindustan Times
