Hanto Workspaces to Expand Bengaluru Operations by 4 Lakh Sq Ft by FY26

Hanto Workspaces, a flexible office space provider, plans to expand its footprint by adding 4 lakh square feet in Bengaluru by FY26. The company is also considering entering Chennai, Hyderabad, Mumbai, and Pune as part of its long-term growth strategy.

Founded in 2019, Hanto Workspaces has been growing steadily, doubling its presence each year. According to Founder Aashit Verma, this expansion is driven by increasing demand from both domestic and international clients. Bengaluru remains a key market, accounting for around 30% of India's total flexible workspace segment, which spans nearly 20 million square feet. Hanto Workspaces currently holds a 1.5% share of this market and aims to strengthen its position further.

The company has identified Pune and Mumbai as important locations for future growth. While Bengaluru’s flexible workspace market is growing at an estimated compound annual growth rate (CAGR) of 25%, Pune is expanding at a higher rate of 40%. Existing enterprise clients have shown interest in having centers in Pune and Hyderabad, influencing the company’s expansion decisions. Hanto Workspaces currently serves around 50 to 60 enterprise clients.

Verma emphasized that the company is taking a calculated approach to expansion. He pointed out that real estate is a highly localized business requiring deep knowledge of each market. As a result, Hanto Workspaces does not plan to expand into multiple cities simultaneously but will adopt a phased approach to entering new markets.

The company is targeting an initial public offering (IPO) in 2028, with projected revenues between ₹500 crore and ₹700 crore. At present, its occupancy rate stands at 86%, and its annual recurring revenue (ARR) has reached ₹40 crore. The company has recorded a 50% increase in ARR and expects further growth in the coming years.

Hanto Workspaces is positioning itself to scale operations in Bengaluru while preparing for entry into other cities. Its focus on enterprise clients and structured expansion strategy indicates a steady approach to growth in the flexible workspace sector. With demand rising in multiple urban centers, the company aims to build a strong presence across key markets over the next few years.