BHIVE Workspace, a prominent managed office space provider based in Bengaluru, has announced the leasing of a substantial 77,000 square feet office space from Address Maker on CMH Road in Indiranagar. This significant lease, valued at ₹8.5 crore annually, underscores BHIVE’s aggressive expansion strategy in the city’s Central Business District (CBD).
The newly acquired property, a B+G+3 structure, is poised to feature over 1,500 workstations and a comprehensive array of amenities. These include state-of-the-art boardrooms, private phone booths, recreational areas, designer studios, and dedicated parking facilities. The location’s proximity to a metro station is expected to enhance accessibility for clients and staff, bolstering BHIVE’s strategic presence in one of Bengaluru’s most vibrant business locales.
In a statement, the Founder and CEO of BHIVE Workspace emphasised that this acquisition is a critical milestone in solidifying the company’s leadership in Bengaluru’s competitive real estate market. The addition of this property aligns with BHIVE’s broader goal of expanding its footprint by 3 million square feet over the next two years. The company plans to increase its portfolio by 1 million square feet in the current financial year, with approximately 7-8 lakh square feet earmarked for Bengaluru. Financially, BHIVE Workspace aims to achieve ₹350 crore in revenue for the ongoing fiscal year, a notable increase from the previous year’s revenue of ₹170 crore. The company’s net profit last fiscal stood at ₹7 crore. Looking ahead, BHIVE is also preparing for an initial public offering (IPO) by FY26, marking a significant step in its growth trajectory.
Earlier in the year, BHIVE leased seven commercial units in Mumbai’s Bandra Kurla Complex, covering 62,000 square feet at a monthly rental of over ₹1.25 crore. Additionally, the company recently secured 42,000 square feet in Garudachar Palya, Bengaluru, in a second collaboration with Brigade Group. Currently, BHIVE operates across more than 27 locations, managing over 1.8 million square feet of office space and providing over 28,000 billable seats. The company’s strategic expansion and robust leasing activities reflect its commitment to catering to the evolving needs of modern businesses and reinforcing its market position.
