Urban Vault, a leading provider of managed flex spaces, has made a strategic entry into Pune by launching a 35,000 sq. ft. facility at Ambrosia Galaxy, Baner High Street. The state-of-the-art workspace offers over 700 desks, with pricing ranging from ₹6,500 to ₹8,000 per seat per month, targeting startups, SMEs, and enterprises seeking flexibility and scalability.

Mr. Amal Mishra, Co-founder and CEO of Urban Vault, stated, “Pune is a rapidly growing market with a strong demand for flexible office solutions. Our entry into this city is driven by the increasing need for high-quality, managed workspaces that cater to diverse business requirements.”

Strategic Expansion and Growth Plans

Following the Baner launch, Urban Vault plans further expansion across Pune, focusing on key commercial hubs such as Balewadi, Hinjewadi, Viman Nagar, Kalyani Nagar, and Kharadi. Additionally, emerging business districts like PCMC are being explored for future developments.

Urban Vault currently operates over 20 lakh sq. ft. of office space with 30,000+ desks, mainly in Bengaluru, where it manages 65 centers. For the fiscal year 2024-25, the company projects a turnover of ₹120 crore, with a profit after tax (PAT) of 18% and a year-over-year growth rate exceeding 70%.

With this latest expansion, Urban Vault aims to solidify its position as a leading provider of managed office spaces, fostering innovation and productivity while promoting sustainable growth.

Also Read: Corporate Biggest User Of Coworking Spaces.

The post Urban Vault Expands to Pune with New 35,000 Sq. Ft. Flex Space at Ambrosia Galaxy appeared first on Square Feat India.

The move comes amid the rapid expansion of India’s co-working sector, which is currently valued at $1.94 billion and is expected to grow at a CAGR of 7.4%, reaching $3 billion by 2030. Increasing demand from SMEs, startups, and larger corporations is driving this growth, with Mumbai emerging as a key hub alongside NCR and Bangalore.

Nirav Jagad, Chief People Officer of SUGAR Cosmetics, stated that the decision to lease the space for five years aligns with the company’s strategic expansion. The 9,000 sq. ft. usable workspace will be tailored to their specifications, particularly in terms of technology infrastructure. Jagad highlighted the location’s accessibility for employees and visitors as a key factor in the selection process.

Enzyme Office Spaces, which specializes in managed office solutions, confirmed the agreement. Founder & CEO Ashish Agarwal stated that the partnership underscores the company’s growing presence in the co-working and managed office market. He emphasized Enzyme’s commitment to providing a high-quality experience for its corporate clientele.

The deal highlights the increasing preference for flexible, cost-effective office solutions in Mumbai’s evolving commercial real estate landscape.

Also Read: Flat Sold For Rs 1.25 lakh per square feet in Carmicahel Road

The post SUGAR Cosmetics Acquires 14,000 Sq. Ft. Office Space in Mumbai appeared first on Square Feat India.

The new facility will accommodate over 2,000 desks, with rental rates starting at approximately ₹9,000 per seat per month. Urban Vault, a self-funded company renowned for its managed workspace solutions, aims to address the growing demand for flexible office environments. The company’s portfolio currently includes over 2 million square feet of office space and more than 30,000 desks, reflecting its significant footprint in Bengaluru.

Urban Vault’s expansion into Whitefield is a response to the increasing preference among large and medium-sized corporates for hassle-free, managed office spaces. “Post-COVID, the demand for prime office space has revived significantly,” said Amal Mishra, Co-founder and CEO of Urban Vault. “Large and medium-sized corporates are increasingly opting for managed spaces to streamline their operations.”

Bengaluru continues to be a favored location for both global and domestic companies due to its availability of English-speaking tech professionals and a robust supply of affordable, high-quality office spaces. Mishra noted that multinational corporations are establishing Global Capability Centres (GCCs) in Bengaluru and other major cities, further driving the demand for Grade A office space.

In addition to strengthening its presence in Bengaluru, Urban Vault is gearing up for expansion into Pune, Delhi-NCR, and Mumbai by the end of the fiscal year. The company is actively seeking office spaces in these cities to enhance its portfolio and drive growth. “We are in preliminary discussions with commercial real estate developers and individual landlords in these key markets,” Mishra added.

For the fiscal year 2023-24, Urban Vault reported a turnover exceeding ₹100 crore, with an 18% profit after tax (PAT) and consistent year-over-year growth. The company’s operational centres currently maintain an occupancy rate of 91%, underscoring its successful business model and market demand.

Also Read: The Rise of Real Estate in Thane & Kalyan: Quality, Sustainability, and Affordability

The post Urban Vault Leases 100,000 Square Feet of Office Space in Brigade Summit, Whitefield appeared first on Square Feat India.

·      New seats to come up at prime locations in Sarjapur Road, Hebbal, Koramangala, and HSR Layout

·      Urban Vault plans to enter markets in Delhi, Hyderabad, and Pune in the coming year

Urban Vault, one of the leading managed office space providers in India, on Monday announced the addition of 10,000 desks across major micro-markets of Bengaluru as part of the company’s strategy to expand its portfolio to meet rising demand for flexible workspace.

Founded in 2018, Urban Vault currently has 15,000 desks across 40 centres in Bengaluru. The total area under its portfolio is 10 lakh square feet. With this latest addition, Urban Vault’s total inventory of managed co-working seats in Bengaluru will surge to an impressive 25,000.

“There is a huge demand for managed flex spaces from corporates of all sizes. We are expanding our portfolio in a big way. We are adding 10,000 seats across prime locations in Bengaluru,” Urban Vault Co-founder and CEO Amal Mishra said.

The company will add around 3,000 seats in Sarjapur Road, 3,000 seats in Hebbal, 2,000 seats in Koramangala, and 1,000 seats in HSR Layout.

The average rental cost per seat is Rs 10,000.

With addition of 10,000 desks, Urban Vault’s total portfolio will reach 25,000 desks in Bengaluru. The number of centres will increase to 45 and the total area under the portfolio will reach 15 lakh square feet.

“Flexible workspace has become a preferred option for corporates looking to expand their businesses. Even those companies which are accustomed to traditional office setups are opting not to renew their lease agreements, instead transitioning towards co-working spaces,” Mishra said while talking about the potential of the flex space market.

Mishra highlighted that managed office space offers flexibility and helps corporates save on capital expenditure. “Corporates do not have to worry about managing physical infrastructure and housekeeping of their offices,” Mishra said.

Urban Vault’s innovative solutions and customer-centric approach have been instrumental in its success. From private offices to virtual spaces, the company delivers tailor-made, high-quality solutions. This allows businesses to redirect their focus towards their core activities, while Urban Vault takes care of their workspace requirements.

Leading enterprises such as BluSmart, and Gensol Group have already recognized the value of Urban Vault’s flexible workspaces. These spaces foster agility and innovation, making them a magnet for high-calibre professionals.

Looking ahead, Urban Vault is poised for extensive expansion, with plans to enter markets in Delhi, Hyderabad, and Pune in the coming year. This strategic move is driven by the company’s vision to offer its transformative workspace solutions to a wider audience.

Also Read: The future of Co working spaces: Innovative designs in technologies to boost productivity

The post Managed Co-Working Player Urban Vault to Add 10,000 Seats in Bengaluru within This Quarter appeared first on Square Feat India.

• Of over 8.2 Mn sq. ft. net office space in Q1 2023 across the top 7 cities, coworking comprised approx. 2.18 Mn sq. ft.; in pre-Covid Q1 2019, approx. 1.3 Mn sq. ft. net absorption of 9.3 Mn sq. ft. net absorption was by coworking
• Overall, the top 7 cities saw 90% growth in net coworking space absorption in this period – from 1.3 Mn sq. ft. in Q1 2019 to 2.18 Mn sq. ft. in Q1 2023
• Bengaluru & NCR accounted for 66% of net coworking absorption in Q1 2023 (approx. 1.43 Mn sq. ft.)
• Of 8.2 Mn sq. ft. net office absorption in Q1 2023, Bengaluru & NCR together dominated with a 51% share

Demand for flexible office spaces has hit a new high after the pandemic, with major companies and businesses including start-ups now increasingly opting for coworking spaces. Latest ANAROCK data reveals that out of a net absorption of approx. 8.2 Mn sq. ft. across the top 7 cities in Q1 2023, coworking spaces had a 27% share. Back in pre-pandemic Q1 2019, its share was just 14% of a net office absorption of approx. 9.3 Mn sq. ft.

Among the top 7 cities, Bengaluru and NCR together accounted for 66% (approx. 1.43 Mn sq. ft.) of net coworking absorption in Q1 2023. Pune and Chennai together saw approx. 0.52 Mn sq. ft. of coworking spaces absorbed in the same period. In terms of overall growth in coworking demand, the top 7 cities witnessed a 90% growth in net absorption in this period – from 1.3 Mn sq. ft. in Q1 2019 to approx. 2.18 Mn sq. ft. in Q1 2023.

Besides start-ups and other businesses, many IT/ITeS companies also prefer flexible spaces over regular office spaces today, with a strong emphasis on workspace flexibility for employees.

Utkarsh Kawatra, Senior Director – myHQ (ANAROCK Group), says, “Coworking spaces demand weakened considerably after Covid-19 disrupted the workplaces equation across the country. We’re seeing a decisive reversal of this negative trend now, with coworking particularly attractive because of the disrupted IT/ITeS employment scenario.”

What works very well for coworking now is the fact that such spaces are not concentrated in the city centres, like regular office spaces tend to be. Rather, they’re mushrooming across different locations, including residential hubs. Coworking spaces now even operate out of malls and hotels, and many large office parks also have coworking quadrants. This helps companies to remain closer to their employees and thus offer them flexibility.

Flexible office spaces allow firms to deploy instantly rather than having to contend with office layouts and fit-outs, at costs comparable to regular office spaces which also involve long lock-in periods. Coworking spaces are shooting up in major cities with low Grade A offices vacancy levels and a higher demand from start-ups, freelancers and corporates looking to expand.

In IT/ITeS-driven cities like Bengaluru, Chennai, and Pune, the relatively low vacancy levels in Grade A offices have spurred the demand for coworking spaces.

“This is also the case with Delhi NCR, where low commercial space vacancy levels have fostered a rich growth environment for coworking setups in areas such as Gurugram and Noida,” says Utkarsh Kawatra. “In MMR, corporates looking to expand aggressively and shift their operational divisions to smaller distributed locations are focusing on coworking spaces.”

South Cities Top Coworking Demand

• Bengaluru, Hyderabad and Chennai – the key southern cities – together witnessed net office absorption of approx. 4.6 Mn sq. ft. in Q1 2023. Of this, 26% (or approx. 1.19 Mn sq. ft.) was by coworking players
• The western markets of MMR and Pune saw net absorption of approx. 1.48 Mn sq. ft. office space in Q1 2023. Of this, 24% (or approx. 0.35 Mn sq. ft.) was by coworking players
• In NCR, 32% (approx. 0.61 Mn sq. ft.) of approx. 1.89 Mn sq. ft. absorbed office spaces were by coworking players
• Kolkata saw a mere 0.25 Mn sq. ft. office space absorbed in Q1 2023, of which 12% (approx. 0.03 Mn sq. ft.) was by coworking players.

Advantage Coworking Spaces

“The perception of offices has undergone a profound change since the pandemic – the workplace is now perceived as an environment that must be optimally managed,” says Utkarsh Kawatra. “This necessitates an element of specialisation, in which the flexible space operators fill the niche as specialist workplace management firms. We are increasingly seeing the desire to cultivate an environment of collaborative enterprise that yields tangible benefits to the occupier, both in terms of cost and layout.”

Many companies continue to follow a hybrid working culture, which involves setting up smaller satellite offices or remote teams using neighbourhood on-demand coworking spaces. All these use cases bode well for the coworking industry.

Going forward, we are likely to see developers of commercial office assets across the country align with such operators and carve out specialised coworking spaces for them. The expansion plans of major players and the increasing appetite for this format from occupiers, property owners, and coworking operators will fuel growth.

Also Read: Coworking spaces see unprecedented boom in demand

The post Coworking Share in Office Real Estate at 27% appeared first on Square Feat India.

By Varub Sinhh

The COVID-19 pandemic has changed the way people work and will have long-term effects. The pandemic and lockdown restrictions impacted all segments of the economy.

In 2021, the co-working sector had a roller coaster journey, Following the first phase of the Covid, companies and professionals returned to work, kicking out the year with a bang. The co-working space sector is resurrecting in the post-pandemic context, using the crisis as an opportunity.

Nakul Mathur, Managing Director of Avanta India says, “This is the ideal time for property owners to think ahead of the curve and collaborate with co working operators to make the best of their vacant real-estate spaces. This way, they can unlock the untapped potential of their vacant properties.”

Co-working is a concept in which professionals from various firms agree to share office spaces which provide a variety of advantages, including cost reductions, ease, leading edge infrastructure and decor, and networking possibilities. It is often seen as the way of the future. It has a promising potential. As a result, these spaces are regarded as one of the most rapidly rising trends in the corporate sector, particularly in the aftermath of the epidemic.

According to Good works, “There has been a huge surge in the number of co-working spaces recently both worldwide and in India. The total number of spaces is projected to hit almost 26,000 by the year 2022 – a 42% increase since last year, 2019. More than 2,500 new co-working spaces are being added worldwide per year.”

With that in mind, here are some of the most important co-working trends affecting the market as we approach 2022.

Hybrid workspaces:
Hybrid work spaces are the future of co-working since they are working models that are meant to provide employees maximum flexibility while preserving the physical element of working. In this approach, a worker may choose to login from home or occupy an office location while doing their daily tasks.

They are also regarded as the future of co-working as major corporations seek ways to reintroduce their workers without compromising the mobility and comfort that they have become accustomed to while working from home.

Meanwhile, co-working can save businesses money on office space and provide economic opportunity for other facility owners as hybrid co working spaces can be found in hotels, restaurants, and other locations. The facility owners want to take advantage of the potential to expand their operation and find new ways to generate more money. Depending on the time of the day, restaurant, gyms, and event facilities might be used as cool working spaces.

“Several companies across the globe had asked their work force to work from home and increasing number of people now want a mixture of working from home and going back to the workplace. As highlighted in a survey by Prudential, “68% of global workers now prefer a hybrid workplace model where there exists a flexibility to work outside the office occasionally.” From the cost-saving perspective, both organisations and employees have saved a great deal of expenses from the hybrid model. In the post-pandemic world, a mix of office and work from home arrangements are going to be an omnipresent trend,” Mathur added.

Landlords Step Into the Co-working industry:
Due to the epidemic scenario, demand for traditional office spaces has dramatically decreased, resulting in a decrease in rent and the conversion of houses into work spaces, which creates competition for co working operators as homeowners are introduced in the game.
Rather than collaborating with co working space providers, landlords and property investment groups are beginning to transform themselves into flexible office space providers in order to capitalize on this opportunity by developing their own flexible space and they will go head to head with the service providers after launching their own co working segments.

“Co-working as an industry never fails to surprise, and 2022 is likely going to witness yet another year of its relentless growth. Beating the pandemic blues, the co-working sector is going to see newer trends emerge, including but not limited to, adapting to the guidelines of wearing mask at public places, sanitation, hygiene, and social distancing, change of space layouts according to these mandates, price correction at individual market levels, and restructuring of co-working packages for corporations, start-ups, and freelancers.” says Siddharth Maurya, Resource Specialist – Fund Management.

Work Near Home will be more popular:
The epidemic prompted a significant shift to remote working throughout the world where companies have realized that they are unable to achieve desired employee productivity and social connect from work from home scenario. This can be influenced by a wide range of factors, Poor connectivity and colliding of work and personal life, a lack of availability of suitable work space and employees’ fear of commuting long distances in public transportation such as metro, buses and shared cabs and the organization understands and respects their employees and is prepared to spend for membership in co-working near their homes. This demand for suburban co working space will almost certainly result in the opening of new facilities in 2022.

Co-working is adapting as per the need:
The co working business has progressed significantly. Despite the pandemic, coworking spaces have shown to be incredibly robust, and are poised for development as they adapt to it and respond to the new remote work trend.

Also Read: Bhushan Kumar Of T-Series Paid Rs 167 Crore For Juhu Bungalow

The post Co-working Trends that will shape 2022’s realty market appeared first on Square Feat India.

By Varun Singh

Restaurants are seen as a place where one goes for leisure, associating it with work is not many would have ever thought about. However, restaurants are now slowly being turned into a Co-Work space.

Founders of co-working space company Primus Co-works recently launched their services in Mumbai and Pune. They have partnered with 32 of Mumbai and Pune’s finest restaurants as well as cafes at prime locations. The aim is to convert lounge bars, cafes and restaurants into dedicated workspaces during their off-peak hours while catering to a wide spectrum of target clientele  Their promise; a workspace that is comfortable, relaxed, and productive.

This new co-working space is aimed at helping those who are freelancers, SMEs, and start-ups, as Primus Co-works claims to provide an economical and fully-managed workspace. Restaurants unlike an office space, do provides a lively environment. But the question still remains is Indian Audience ready for this. The founders think they are.

To be honest many freelancers work out of a Starbucks and CCD in Mumbai and many other cities. However, not many prefer a restaurant, because we live with a guilt that we aren’t ordering enough to stay long at the restaurant to continue working from there. This co-working model may help one get rid of that guilt.

Talking about co-work spaces at restaurants, heres how they work. If one is in Mumbai, one can choose from a select list of restaurants that range from The Clearing House, to neighborhood cafes like Love & Latte. For those in Pune too, one can choose from formal restaurants such as Nawab Asia, to casual hangout spots like Playboy Beer Garden.

The founders also boast of amenities that they claim one may not get when working at a restaurant conventionally, such as repro services, concierge services, executive assistance, valet parking, unlimited complimentary beverages, and  a discounted  menu.

Ad-filmmaker Abhinay Deo along with Shardul Singh Bayas are the masterminds behind this idea.

Abhinay Deo says, “Our concept is different and based on deep insight from what the audiences go through. We noticed that youngsters today are always sitting at coffee shops with no WIFI or basic services and we want to change that with Primus Co-works. We have over 25 restaurants in Mumbai on board already and these numbers will triple over the next few months.”

Shardul Singh Bayas added, “We have tested this concept in Pune and it worked beautifully. Mumbai as a market is very experimental and I can see this concept working well here as well. Primus Co- works is for everyone who needs a comfortable place to work at with the right kind of services to aid their creativity.”

Primus Co-works plans to spread its dedicated restaurant workspace initiative across India by  March 2020

The post Now Make A Reservation At A Restaurant, For Co-Work Table. appeared first on Square Feat India.