Urban Vault has expanded its flexible office space by 120,000 sq ft in Bengaluru’s central business district to meet corporate demand. With over 2 million sq ft in its portfolio, Urban Vault is set to expand to Gurugram, Pune, and Mumbai, aiming to become a leading provider of flexible workspace solutions in India.
Urban Vault, a managed office space provider, is expanding its footprint in Bengaluru’s bustling central business district (CBD), leasing an additional 120,000 square feet to accommodate the growing demand for flexible workspaces. The new space spans three prominent buildings—HM Square on Residency Road, Prestige Obelisk on Kasturba Road, and Pardhanani Wilshire on MG Road—underscoring Bengaluru’s appeal as a top choice for corporations setting up operations in India.
“Flexible workspace has become an integral part of the real estate portfolio for corporations,” said Amal Mishra, Urban Vault’s founder. Mishra noted that Bengaluru’s affordable real estate and access to skilled talent make it highly attractive for corporates, particularly multinational firms launching Global Capability Centers (GCCs). This demand fuels interest in Grade A office spaces, with Bengaluru standing out among India’s top seven or eight cities in corporate appeal.
Urban Vault has established itself as a significant player in managed workspace solutions, with over 2 million square feet of office space and more than 30,000 desks in its portfolio. The company currently holds 1.5 million square feet of its portfolio in Bengaluru’s CBD alone, offering desks at rates between INR 8,000 and INR 10,000 per month. Urban Vault operates on a rental and revenue-sharing model, leasing space from property owners to provide corporates with flexible leasing options that align with modern business needs.
In the 2023-24 financial year, Urban Vault reported over INR 100 crore in revenue with an 18% net profit, alongside an impressive 91% occupancy rate in its operational centres. This high occupancy highlights the increasing demand from businesses seeking flexible office arrangements, especially as more multinational companies establish a presence in India. The company’s model of offering fully managed workspaces, complete with amenities, positions it to meet the evolving requirements of the corporate real estate market.
Looking ahead, Urban Vault has ambitious expansion plans beyond Bengaluru. The company aims to establish a presence in Gurugram next quarter, with Pune and Mumbai also on its radar. With these expansion efforts, Urban Vault is poised to become one of India’s leading providers of flexible workspace solutions, offering high-quality, affordable office environments for businesses of all sizes.
As demand for flexible office solutions grows, Urban Vault’s strategic focus on prime locations, affordable desk rates, and flexible lease models is helping it stand out in a competitive market. With Bengaluru as its stronghold and expansion plans for other key cities, Urban Vault is well-positioned to capture a larger share of the corporate real estate market across India.
