BHIVE Workspace has leased 42,000 sq ft from Brigade Group in Bengaluru, expanding its presence in Mahadevapura. The new facility supports 1,200+ seats and features tech-enabled conference rooms. This lease is part of BHIVE’s plan to add 1 million sq ft of managed office space, doubling revenue to ₹348 crore in FY 2024-25.
Co-working firm BHIVE Workspace has leased 42,000 square feet of office space in Garudachar Palya, Mahadevapura, Bengaluru, from Brigade Group. This significant expansion marks their second collaboration with Brigade Group, following their successful venture in Summit A.
The new facility, located on the 7th floor of Summit B, is designed to support over 1,200 seats. It features state-of-the-art collaboration zones, tech-enabled conference rooms, and dedicated parking spaces, making it an ideal workspace for tech multinationals in East Bengaluru. “We are excited about strengthening our partnership with Brigade Group,” said Shesh Rao Paplikar, Founder and CEO of BHIVE Group. He added, “This new signing supports our strategic vision to enhance our presence across Bengaluru’s key business hubs.”
Mahadevapura’s prime location along the Outer Ring Road and its proximity to essential amenities and transport links like the Metro Station, just a minute’s walk away, makes it an attractive site for top-tier businesses. The strategic placement is expected to cater to the high demand from tech companies and other enterprises seeking premium office spaces in the city.
The latest lease is part of BHIVE’s broader strategy to expand its managed office space portfolio by 1 million square feet during the ongoing financial year, with 700,000-800,000 square feet planned for Bengaluru alone. This aggressive expansion reflects the company’s commitment to meeting the region’s growing demand for flexible workspaces.
BHIVE has leased around 300,000 square feet of space within Bengaluru in the current financial year, adding to a cumulative 180,000 square feet from the last fiscal year. This rapid growth aligns with their ambitious target for the 2024-25 financial year, where BHIVE aims to double its revenue to ₹348 crore while maintaining profitability. The company reported a total revenue of ₹170 crore and a net profit of ₹7 crore in the last fiscal year, showcasing its solid financial performance.
BHIVE’s strategic expansions and successful partnerships position it as a leading player in Bengaluru’s co-working space market. It offers cutting-edge facilities and prime locations to cater to the evolving needs of modern businesses.
