Bengaluru-based Hanto Workspaces plans to add 4 lakh square feet of workspace in the Bengaluru micro-market by FY26. The leasing operator is also looking to expand into Chennai, Hyderabad, Mumbai, and Pune.
Founded in 2020, Hanto Workspaces has doubled its presence every year, according to Aashit Verma, Founder of the workspace provider. “We have been doubling every year,” he said, attributing this growth to both domestic and international demand.
Currently, Bengaluru accounts for approximately 50 per cent of India’s total flex workspace market, spanning roughly 20 million square feet, explained Verma. Hanto Workspaces holds around 1.5 per cent of this market but anticipates significant growth, both within Bengaluru and across other key Indian cities. “Pune and Mumbai are emerging as major zones for expansion,” Verma noted.
“While Bengaluru’s flex workspace market is growing at a CAGR of around 25 per cent, Pune is expanding at 40 per cent CAGR. We are seeing demand from our own client base, with enterprises specifically asking for centers in Pune and Hyderabad,” Verma added. Currently, Hanto Workspaces serves 50-60 enterprise clients.
However, Verma stressed having a measured approach to expansion. “As a single-city operator right now, we don’t plan to expand across all regions at once,” he said. “Real estate is a hyper-local sector, requiring deep local knowledge to operate successfully.”
Hanto Workspaces is targeting its IPO debut for 2028, with projected revenues of ₹500-700 crore. The company currently has an occupancy rate of 86 per cent and an annual recurring revenue (ARR) of ₹40 crore, with several deals in the pipeline. “Our ARR has grown by 50 per cent, and we anticipate further scaling in the coming years,” Verma stated.
