EFC (I) Limited has expanded its managed office portfolio in Pune by securing a long-term lease for an entire A+ category building at Koregaon Park Annex. The company took on lease the full structure, comprising 95,897 sq ft, under a 5-year agreement that carries a revenue potential of more than ₹70 crore.

The new facility is expected to add 2,000+ seats to EFC’s managed office seat portfolio. By controlling the entire building, the company aims to optimize space utilization, branding, and customer experience while strengthening its operational efficiency in its home market.

Expansion Details

Strategic Context

Umesh Sahay, Chairman & Managing Director of EFC (I) Limited, stated that complete control over the premises enables consistent workplace experiences and greater flexibility in configuring spaces for evolving customer requirements. He noted that this expansion follows the recent acquisition of Ultrafresh, which strengthens the company’s Furniture Manufacturing and Design & Build capabilities.

Sahay emphasized that all three core verticals — Managed Office Spaces, Design & Build, and Furniture Manufacturing — are scaling together. This integrated approach is intended to strengthen EFC’s Real Estate as a Service (REaaS) platform and create opportunities for long-term growth.

What the Numbers Show

The lease agreement implies a minimum average annual revenue realization of approximately ₹14 crore based on the disclosed total revenue potential of more than ₹70 crore over the five-year term. This figure represents the baseline financial commitment from the asset, excluding potential upside from higher occupancy rates or ancillary services within the managed office model.

TTK Prestige Limited has entered into a Share Acquisition Agreement with EFC (I) Limited to sell its 51% controlling stake in its subsidiary, Ultrafresh Modular Solutions Limited. Concurrently, EFC (I) has announced the acquisition of the remaining 49% equity held by other shareholders, resulting in a 100% ownership transfer of Ultrafresh. This transaction marks the complete exit of TTK Prestige from the modular home solutions business, transferring full control to EFC (I). The agreements were disclosed on August 13, 2026, under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

The sale consideration for TTK Prestige’s 51% holding is ₹27.54 crore. The total valuation of Ultrafresh at ₹54 crore implies that EFC (I) is acquiring the remaining 49% equity for the balance amount. The entire consideration for TTK’s stake is being discharged through a share swap mechanism, where TTK Prestige and other shareholders will receive fresh equity shares of EFC (I) instead of cash. The share swap ratio was determined based on an independent valuation report as per the Share Acquisition Agreement.

Financial Contribution of Ultrafresh

Ultrafresh Modular Solutions contributed significantly to TTK Prestige’s consolidated numbers prior to this disposal. For FY26, the subsidiary reported a turnover of ₹36.3 crore, which constituted 1.2% of TTK Prestige’s consolidated turnover.

The net worth of Ultrafresh stood at (₹16.66) crore as on March 31, 2026, representing (0.8)% of the parent company’s consolidated net worth. The negative net worth indicates accumulated losses or reserves adjustments within the subsidiary over its operational history since its incorporation in December 1992.

Strategic Rationale and Buyer Profile

EFC (I) Limited, a publicly listed company engaged in Managed Office Solutions, Design & Build turnkey solutions, and furniture manufacturing, aims to expand its presence in the organised modular home solutions market. Ultrafresh specialises in modular kitchens, wardrobes, and customised home interior solutions, operating a manufacturing plant in Nalagarh, Himachal Pradesh.

The acquisition allows EFC (I) to leverage Ultrafresh’s integrated design, manufacturing, supply, and installation capabilities. It also provides strategic access to North India through Ultrafresh’s existing factory and warehouse presence. Mr. Umesh Sahay, Chairman & Managing Director of EFC (I), stated that the acquisition strengthens their established furniture manufacturing and Design & Build businesses while adding a strong modular solutions platform to their portfolio.

Regulatory and Procedural Details

The sale was carried out outside a Scheme of Arrangement through a direct Share Acquisition Agreement. Consequently, Regulation 37A of the SEBI (LODR) Regulations, 2015, which governs the sale of substantially the whole undertaking, was not applicable. The transaction requires approval from the shareholders of EFC (I) Limited due to the issuance of fresh equity shares as consideration. No specific governmental approvals are required for the deal itself.

Completion of the acquisition is scheduled on or before October 31, 2026, subject to the fulfillment of conditions precedent outlined in the agreement. TTK Prestige disclosed the transaction pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.