Managed office space provider Table Space managed to trim its net loss for the fiscal year FY26 by 74% to ₹403.4 Cr from ₹1,554.1 Cr in the previous fiscal year. 

Operating revenue grew 66% to ₹2,262.3 Cr in FY26, up from ₹1,360.5 Cr in FY25. Including other income of ₹254.3 Cr, its total income for the year under review stood at ₹2,516.6 Cr. 

The company incurred an exceptional loss of ₹503.8 Cr in exceptional losses and ₹1.3 Cr in profits from associates and joint ventures. Its tax expenses included ₹25.7 Cr in current tax and ₹8.6 Cr in deferred tax charges. 

In its operational metrics, Table Space reported normalised revenue of ₹2,477.7 Cr in FY26, which increased 56.4% from ₹1,584 Cr in FY25. Its normalised EBITDA for the year stood at ₹453.8 Cr, more than double from ₹202.3 Cr in the previous year. 

Founded in 2017 by the late Amit Banerji and Karan Chopra, and now headed by Chopra and Kunal Mehra as co-CEOs, Table Space provides managed office solutions for enterprises across nine Indian cities. It offers customised workspaces, ready-to-move office suites and workplace management services. 

The company has filed for an initial public offering (IPO) with the SEBI today and intends to raise up to ₹800 Cr via issuance of fresh shares. Meanwhile, the company’s co-CEOs and investors cumulatively intend to offload up to 6.55 Cr share via the offering. 

The draft IPO papers filing comes about two years after the startup began its preparations to go public. Earlier in February, Inc42 learnt that the company’s board had cleared an IPO to raise ₹1,000 Cr from the public markets. 

Besides, as per MCA filings accessed by Inc42, the company had also intended to raise a pre-IPO round of ₹200 Cr. 

The startup has proposed an IPO to raise up to ₹800 Cr via a fresh issue of shares. It plans to deploy the proceeds to pay off debt, fuel acquisitions, and for general corporate purposes. 

Its founders and investors are also seeking to offload up to 6.55 Cr equity shares in total via an offer for sale. 

With the IPO, Table Space would be joining other listed rivals such as Awfis, Smartworks, WeWork India, and IndiQube who have gone public over the past couple of years. 

The spate of IPOs in the space comes at a time when demand from MNCs and GCCs is fuelling growth among flexible workspace operators, with investors clamouring for a piece of the pie. 

Where Did Table Space Spend?

Table Space’s total expenses for the fiscal grew by 55% to ₹2,383.2 Cr from ₹1,540.2 Cr in the previous year. 

Depreciation and Amortisation Expense: The company’s largest cost centre surged 70.8% YoY to ₹819.6 Cr from ₹479.9 Cr.

Other Expenses: Expenses under this head grew 40.7% YoY to ₹784.4 Cr compared to ₹557.7 Cr in the previous year. 

Finance Costs: Finance related expenditure increased 46.3% YoY to ₹469.1 Cr from ₹320.6 Cr.

Employee Benefits Expense: Table Space spent ₹241.4 Cr on employee benefits in FY26, up 55.5% YoY. 

Purchase of Stock-in-Trade and Project Execution Costs: This line item more than doubled to ₹68.3 Cr in FY26 from ₹26.7 Cr in the previous year.

Cost of Materials Consumed: The company spent ₹23.9 Lakh on raw materials in FY26 whereas it had no expenses under this head in FY25. 

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