BHIVE Workspace has leased 77,000 square feet of grade-A office space from Address Maker on CMH Road, Indiranagar, Bengaluru, for INR 8.5 crore annually. This new space will accommodate over 1,500 seats and feature various amenities like boardrooms, recreational zones, and dedicated parking. In August 2024, BHIVE also leased 42,000 square feet in Mahadevapura, Bengaluru, following a 62,000 square feet expansion in Mumbai's Bandra-Kurla Complex. Aiming for INR 348 crore in revenue for FY25, BHIVE plans to add 3 million square feet by FY26, solidifying its position as a leader in flexible workspaces across India.
BHIVE Workspace has secured a 77,000 square feet grade-A office space lease from Address Maker on CMH Road, Indiranagar, Bengaluru. The lease, valued at INR 8.5 crore per year, strengthens BHIVE's presence in Bengaluru's prime central business district. The newly acquired B+G+3 property will house over 1,500 seats, offering a wide array of amenities including boardrooms, private phone booths, recreational zones, designer studios, and dedicated stack parking.
Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace, emphasised that acquiring this property is a significant move in strengthening their leadership in Bengaluru's Central Business District, a prime location near the metro station. The strategic location adds significant value to BHIVE's expanding footprint in this prominent urban area. In August 2024, BHIVE expanded further by leasing 42,000 square feet of office space at Brigade Metropolis in Mahadevapura, Bengaluru, offering over 1,200 seats.
Prior to this, the company had leased 62,000 square feet of office space at Adani Inspire, located in Mumbai's prestigious Bandra-Kurla Complex (BKC). As part of its growth ambitions, BHIVE aims to reach a revenue target of INR 348 crore for FY25. The company also plans to add 3 million square feet of office space by the end of FY26, with a significant portion of this expansion slated for Bengaluru.
For the ongoing financial year, BHIVE intends to increase its footprint by 1 million square feet, with 7-8 lakh square feet of this space in its home city. Address Maker, the Bengaluru-based real estate developer from whom BHIVE leased the space, boasts a portfolio of 5 million square feet of completed projects across residential, commercial, and plotted developments. This collaboration strengthens the positioning of both firms in the city's competitive real estate market.
BHIVE Workspace currently operates in over 27 locations, spanning more than 1.8 million square feet and offering more than 28,000 billable seats. This rapid expansion reflects the growing demand for flexible, high-quality workspaces across India's major cities, particularly in Bengaluru. By consistently acquiring premium office spaces in strategic locations, BHIVE continues to meet the evolving needs of businesses, positioning itself as a dominant player in India's dynamic coworking landscape. Its ongoing efforts align with broader market trends favouring flexible work environments in key urban centres.
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