BHIVE, a flexible office space provider, has signed a landmark deal by leasing over 900 desks to Nuvama, a wealth management firm, at the prestigious Bandra Kurla Complex (BKC) in Mumbai. This move marks BHIVE’s first significant expansion outside its Bengaluru base and strengthens its presence in one of Mumbai’s key business districts. The lease is part of BHIVE Platinum BKC, located at the Adani Inspire building, a prime location known for hosting leading corporate offices. Colliers, a leading real estate consultancy firm, facilitated the deal.

Shesh Rao Paplikar, founder and CEO of BHIVE Workspace, emphasised the importance of this expansion: “We are happy to welcome Nuvama to BHIVE Platinum BKC, Mumbai, our first significant expansion outside of Bengaluru. This landmark deal exemplifies our commitment to providing world-class, flexible office spaces that cater to the diverse needs of dynamic enterprises.” The company’s decision to enter the Mumbai market reflects the rising demand for flexible workspaces, especially in prime locations like BKC, which attract businesses from various industries.

Nuvama, which already operates a 700-plus seat office in BKC Inspire, sees this move as a strategic consolidation of its office space. “This move will enhance collaboration and innovation, allowing us to serve our customers and stakeholders better,” said Riyaz Marfatia, COO of Nuvama Group. The additional flexible office space is expected to boost productivity and foster a more dynamic work environment for Nuvama’s teams.

Arpit Mehrotra, Managing Director of Office Services at Colliers India, highlighted the broader implications of the deal: “This deal is a testament to the growing demand for flexible office spaces in key business districts like BKC in Mumbai. Our collaboration with BHIVE and Nuvama showcases how strategic partnerships can drive significant value and opportunities for all parties involved.” As businesses increasingly seek flexibility, BKC remains a prime destination for such innovative workspaces.

In addition to this high-profile deal, BHIVE has ambitious plans for the future. The company has announced its intention to expand by adding 3 million square feet of flexible office space over the next two years. With a projected revenue of ₹300 crore for the current financial year, BHIVE is also eyeing a potential ₹800 crore IPO, further signalling its commitment to growth and leadership in the flexible workspace industry.

The success of BHIVE Platinum BKC is seen as a pivotal step in the company’s broader strategy to revolutionise the coworking sector across India. As demand for flexible office solutions grows, particularly in major financial hubs like Mumbai, BHIVE is well-positioned to capitalise on these trends and continue expanding its footprint nationwide.

In a rapidly evolving office space landscape, this deal between BHIVE and Nuvama signals a growing appetite for flexible work environments and the increasing importance of strategic partnerships in driving business success.