BHIVE Workspace, a prominent managed office space provider based in Bengaluru, has secured a lease for 77,000 square feet from Address Maker on CMH Road in Indiranagar. The annual rent for this prime location is ₹8.5 crore, according to a company statement issued on September 9. The new property will accommodate over 1,500 seats and feature amenities like boardrooms, private phone booths, recreational zones, designer studios, and dedicated parking.

“Acquiring this property is a significant step in strengthening our leadership position in Bengaluru’s Central Business District,” said Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace. He highlighted the property’s strategic location near a metro station, adding further value to the deal.

This expansion is part of BHIVE’s broader growth strategy. The company plans to expand its footprint by 3 million square feet over the next two years. In the current financial year alone, BHIVE aims to add 1 million square feet to its total workspace offerings, with 7-8 lakh square feet coming from its home base in Bengaluru.

The company’s revenue targets reflect this aggressive expansion. BHIVE is aiming for ₹350 crore in revenue this financial year, a significant leap from the ₹170 crore achieved in the last fiscal year, where it also reported a net profit of ₹7 crore. Looking ahead, BHIVE has set its sights on an initial public offering (IPO) by FY26.

Earlier this year, BHIVE also leased seven commercial units totalling 62,000 square feet in Mumbai’s Bandra Kurla Complex at a monthly rent of ₹1.25 crore over five years. In July, the company added another 42,000 square feet of office space in Bengaluru’s Mahadevapura suburb in collaboration with the Brigade Group.

BHIVE Workspace now operates across over 27 locations, offering over 1.8 million square feet of flexible office space and boasting over 28,000 billable seats. With these ongoing expansions, the company is well-positioned to strengthen its presence in India’s competitive coworking market.