BHIVE Workspace has leased 42,000 sq. ft. of Grade-A office space in Garudacharapalya, Mahadevapura, marking its second collaboration with Brigade Group. This new facility on the 7th floor of Summit B will support 1200+ seats and feature state-of-the-art amenities. "This new signing supports our strategic vision to enhance our presence across Bengaluru's key business hubs," said Shesh Rao Paplikar, Founder and CEO. BHIVE aims to expand its managed office space portfolio by an additional 1 million sq. ft. this year, projecting a revenue target of INR 348 Crore for FY 2024-25.
BHIVE Workspace, a top provider of managed office spaces in India, is expanding its presence with a new lease of 42,000 square feet of premium office space in Garudacharapalya, Mahadevapura. This expansion is a part of their ongoing collaboration with Brigade Group, one of India's leading property developers. BHIVE already occupies space in Summit A, which has been operational for the past year, and this new facility is located on the 7th floor of Summit B.
Brigade Group has a strong legacy in real estate, having developed 280 buildings across nine cities, covering residential, office, retail, and hospitality sectors. With over 30 million square feet developed in major Indian cities, Brigade Group is known for its quality and excellence. This partnership allows BHIVE to leverage Brigade?s strategic locations and premium real estate to enhance its service offerings.
The new BHIVE facility in Summit B is designed to accommodate over 1200 seats and includes modern amenities like collaboration zones, tech-enabled conference rooms, and dedicated parking spaces. The location is strategically situated in a vibrant tech industry area with excellent connectivity, including a Metro Station just a minute?s walk away. This positions BHIVE to better serve top-tier businesses in Bengaluru.
Shesh Rao Paplikar, Founder and CEO of BHIVE Group, expressed enthusiasm about the expansion. "We are excited about strengthening our partnership with Brigade Group. This new signing supports our strategic vision to enhance our presence across Bengaluru?s key business hubs," he said. BHIVE aims to expand its managed office space portfolio by an additional 1 million square feet this financial year, having already added two to three properties to its portfolio.
BHIVE Workspace projects a revenue target of INR 348 Crore for FY 2024-25, aiming to double its growth while maintaining profitability. With more than 27 managed offices and coworking spaces across Bengaluru and Mumbai, BHIVE serves a diverse clientele including MNCs, entrepreneurs, and businesses of all sizes. The company remains committed to expanding its footprint and providing innovative workspace solutions to meet the needs of modern businesses.
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