Bengaluru-based managed workspace provider Urban Vault (UV) has announced a major expansion in Pune with the launch of two new premium centers — Baner Central and Phoenix Fountainhead, Viman Nagar — adding 2,500 seats across nearly 1 lakh sq. ft. of Grade-A workspace.

With this expansion, Urban Vault’s total Pune portfolio has grown to 3,500 seats across 1.4 lakh sq. ft., spread across three strategic locations: two in Baner and one in Viman Nagar. The move strengthens the company’s position in Pune’s fast-growing managed office and flex space segment, driven by strong enterprise demand and hybrid workspace adoption.

Strong Enterprise Demand Driving Growth

Urban Vault has taken up 42,000 sq. ft. at Phoenix Fountainhead, Viman Nagar, adding 1,200 seats in a high-demand commercial zone. The new center has already onboarded enterprise clients such as Flexisales and Premier Energies, highlighting the increasing traction among corporates seeking flexible, high-quality managed spaces.

In Baner, the company has added another 50,000 sq. ft. center at VJ Indiworks, Baner Central, offering 1,300 seats designed for both startups and established firms. The workspace features collaborative zones, premium meeting rooms, and customizable private suites to accommodate diverse team needs.

Baner and Viman Nagar Emerge as Flex Space Hubs

Baner and Viman Nagar have emerged as Pune’s top-performing micro-markets for managed office operators, owing to robust infrastructure, IT presence, and proximity to residential catchments.
Urban Vault’s new centers are positioned to cater to mid-size enterprises, IT firms, and startups seeking plug-and-play, cost-efficient work environments with premium amenities.

The company’s Pune workspaces are priced between ₹9,000–₹10,000 per seat, balancing affordability with Grade-A quality.

CEO Speaks: “Pune Is Among India’s Most Resilient Office Markets”

Commenting on the expansion, Amal Mishra, CEO of Urban Vault, said:

“Pune continues to be one of India’s most dynamic and resilient office markets, driven by a strong base of IT, manufacturing, and startup ecosystems. Our expansion at Baner Central and Phoenix Fountainhead reinforces our commitment to providing flexible, high-quality workspaces that cater to the evolving needs of modern enterprises.”

He added that Urban Vault aims to deepen its presence in key business hubs and strengthen partnerships with enterprise clients seeking scalability, efficiency, and flexibility.

National Expansion and Strong Financials

With this launch, Urban Vault’s national portfolio has expanded to 2.6 million sq. ft., managing over 45,000 seats across Bengaluru, Pune, Gurgaon, and other cities.

The company reported a ₹120 crore turnover in FY25, marking over 70% year-on-year growth and an 18% profit after tax (PAT), underscoring its strong financial position and operational scale.

Industry Context

Pune’s managed office space market has witnessed rapid growth post-pandemic, led by demand from enterprises seeking flexibility, managed services, and scalability without capex commitments.
Urban Vault’s latest expansion aligns with this trend, positioning the firm as a key player in Pune’s premium workspace segment alongside operators such as WeWork, Smartworks, and Tablespace.

Also Read: Managed Co-Working Player Urban Vault to Add 10,000 Seats in Bengaluru within This Quarter

The post Urban Vault Expands Pune Footprint with 2,500 New Seats Across Baner and Viman Nagar appeared first on Square Feat India.

The funding round is being led by InCred, with Innov8 focusing on deepening its presence in key Tier 1 cities, including Delhi, Mumbai, Pune, Bangalore, and Hyderabad. The company intends to optimize operations in these regions rather than expand into new locations. Over the next three years, Innov8 plans to add 4 million square feet of managed office space across India.

Founded in 2015 by Dr. Ritesh Malik, Innov8 has seen strong demand for flexible office spaces, with its centers maintaining an occupancy rate of over 90%. The company serves leading brands like Swiggy, JioSaavn, Paytm, Tata Digital, Razorpay, and many more.

With over 30 centers across nine cities, Innov8 is positioning itself as a key player in India’s growing coworking market, meeting the needs of businesses seeking flexible, scalable workspaces.

Also Read: NAREDCO Maharashtra NextGen Unveils Excelerate 3.0: A Vision for Innovation in Construction

The post Innov8 Seeks INR 100 Cr to Fuel Expansion Plans appeared first on Square Feat India.

Onward Workspaces, a leading provider of managed and coworking office spaces, has secured a lease for approximately 18,000 square feet at Emaar Capital, located on M.G. Road in Gurgaon. This expansion is part of Onward Workspaces’ strategy to meet the growing demand for flexible, Grade-A office spaces tailored to the needs of contemporary enterprises.

The new facility is designed to foster innovation, enhance productivity, and support seamless collaboration. It has already attracted strong interest, with a UK-based multinational corporation—one of the world’s largest shipping service providers—having pre-booked 45% of the available space.

Suvrat Jain, Founder & CEO of Onward Workspaces, commented on the expansion: “In today’s economic climate, flexibility in real estate has become a key priority for businesses. Companies are increasingly turning to flexible office spaces to optimize costs while maintaining operational agility. This new facility in Gurgaon reflects our commitment to providing premium, fully-managed office environments that adapt to the ever-changing needs of modern businesses.”

Located in the heart of Gurgaon, Onward Workspaces’ new facility offers a range of premium amenities, including custom-designed office suites, fully-equipped meeting rooms with ergonomic furniture, and 24/7 access to a high-quality, flexible workspace. This is an ideal solution for enterprises seeking a productive and collaborative environment.

As part of its ongoing expansion, Onward Workspaces also recently announced plans to add 150,000 square feet of office space across Delhi NCR by the end of 2024, supported by an ₹18 crore investment. With businesses becoming more cautious about capital expenditure, the demand for flexible office solutions continues to grow, and Onward Workspaces is well-positioned to meet this demand.

Also Read: 29% of Homes Sold in Greater Mumbai Priced Above ₹2 Crore

The post Onward Workspaces Expands with 18,000 Sq. Ft. Premium Facility at Emaar Capital, Gurgaon, to Serve Global Enterprises 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.

Over the past five years, flexible space operators have emerged as a prominent force within the Indian office leasing ecosystem, consistently securing a share exceeding 15% of quarterly leasing. In accordance with the higher appetite of occupiers for flexible spaces, CBRE expects flexible space stock to touch 80 million sq ft. by the end of 2024. Over the next two years, occupiers are also likely to expand into a higher number of office locations to accommodate a growing workforce and potentially establish a presence in new markets to serve their expanding clientele better. Occupiers would explore decentralising offices through a mix of traditional and flexible spaces, as per the needs of the business. 

Furthermore, about 17% of occupiers aim to optimize their office portfolios and achieve greater efficiencies by consolidating their offices into fewer locations. This strategy allows occupiers to streamline operations and reduce costs associated with maintaining multiple offices. With the ongoing emphasis on future-proofing office portfolios, occupiers are expected to continue favoring ‘flight-to-quality’ relocations over the next two years.

Demonstrating faith in the Indian office market’s potential, occupiers remain steadfast in pursuing long-term portfolio expansion. In alignment with their broader business trajectory, employee behaviour, and hybrid working policies, almost 70% of the occupiers indicated their intention to increase the size of their overall office portfolio over the next two years. About 73% of domestic corporations and 78% of global firms anticipate a portfolio expansion of 10% or more over the next two years.

The survey also reveals sector-specific preferences for portfolio expansion in the next two years. Approximately 88% of BFSI firms surveyed anticipate a portfolio expansion exceeding 10% of their current portfolio. Similarly, 67% of GCC firms plan to increase their office portfolio by over 10%, while 53% of technology firms express a similar intention.

Offices in India are increasingly favoring an “office-first” approach, with occupiers tightening their hybrid working policies over the past two years. While the hybrid model is still prevalent, there is a growing emphasis on bringing employees to the office. According to the survey, 90% of respondents prefer being in the office for at least three days a week, with the majority preferring working full-time from office.

Further, the report states that modern and sustainable office developments that address businesses’ needs, including recreational facilities and access to public transportation, are projected to capture a larger market share in the coming years.

Occupiers expect landlords to undertake a few building / campus level measures to aid their tenants to facilitate a better office environment. Some of the key areas of focus indicated by respondents are ESG measures (like EV charging infrastructure), health, safety & wellness certifications along with green certification, improving HVAC solutions for energy efficiency, fitness & wellness facilities and employee experience. The strategic incorporation of employee wellbeing and redesign of employee experiences has emerged as a crucial element in return-to-office planning by occupiers, as per the survey. About 67% occupiers indicated that they would allocate 5% or more of their project budget towards ESG implementation.

The survey indicated a noticeable preference of occupiers to expand in smaller cities over the next few years. Global and Indian firms are increasingly exploring Tier-II / III cities as the next growth opportunity, aided by the presence of a skilled talent pool, competitive costs, and developing infrastructure and connectivity. Technology and BFSI firms are rapidly expanding in Tier-II cities, attracted by their potential. Domestic firms prefer these cities for expansion in the next one to three years. With a growing talent pool, competitive real estate costs, and improving infrastructure, Tier-II cities are poised to attract more businesses, fostering local economic growth and balanced development. Office space in these cities is shifting to modern office parks, and flexible workspace operators are expanding to cater to enterprises and start-ups.

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, said, “The robust surge in occupier activity within the Indian office sector, highlighted by 2023’s absorption figures, which are the second highest ever recorded, underscores a remarkable trend. This upsurge reflects a heightened occupier confidence, driven by an expanding commercial office footprint and a growing demand for high-quality spaces. Moreover, the market has been buoyed by pent-up demand from businesses that postponed leasing decisions during the pandemic, further fuelling the current momentum.”

Ram Chandnani, Managing Director, Advisory & Transactions Services, CBRE India, said, “The survey provides valuable insights into evolving occupier preferences amidst business growth and future aspirations. The survey highlights a clear preference for ‘office-first’ policies, reflecting an accelerated return to in-office attendance. Additionally, occupiers continue to demonstrate confidence in the Indian office sector, with intentions to expand their portfolios. There’s also a strong focus on workplace transformation, emphasizing the importance of employee experience in achieving business objectives and cultivating a positive work environment.”

The survey showed a trend towards diversification in the office sector, with a preference for expanding portfolios across multiple cities. This trend is driven by factors like a skilled workforce, improving infrastructure, cost-effectiveness, government support, and the benefits of exploring new geographies. Apart from the major cities like Bangalore, Hyderabad, NCR, and Mumbai, occupiers are particularly interested in expanding in Chennai and Pune. India’s strong economic growth is fueling investments across various sectors, leading to increased demand for diverse office space requirements. While gateway cities continue to see growth in office space demand, Pune and Chennai are witnessing a surge in both office leasing activity and new office space supply.

Also Read: Flexible office space stock to rise 52 per cent by 2025 to 81 mn sq ft on strong demand from corporates

The post 58% of companies to expand flexible office space portfolio by 2026 appeared first on Square Feat India.

By Varun Singh

 Leading independent real estate services consultancy ANAROCK Group today announced acquisition of myHQ, one of largest Indian flexible workspace platforms, to strengthen its flexible workspaces portfolio. myHQ, headquartered in Delhi-NCR, currently has over 50,000 subscribed members across 700+ spaces in 7 cities.

Anuj Puri, Chairman, ANAROCK Group, says, “Coming on the heels of ANAROCK introducing US-based Upflex Inc, a hybrid booking platform with the largest global network of flexible workspaces, to India, the myHQ acquisition will further strengthen our tech and product offerings and enhance our capabilities in this vertical. myHQ will spearhead our expansion into 20+ cities. This gives us nationwide coverage in the flexible workspaces domain, and we will tap into overseas markets in the next 12 months.”     

Post-acquisition, myHQ will retain its distinct brand and independence. Utkarsh Kawatra and Vinayak Agarawal, both IIT-Delhi graduates who founded myHQ in 2016 will remain on board as founding partners and are enthusiastic about firm’s next innings under ANAROCK banner.

“We’re thrilled to be a part of ANAROCK, one of the biggest and most trusted real estate services business in the country, to take myHQ to next level,” says Utkarsh Kawatra, CEO – myHQ. “It is a well-timed move with the right company given our shared enthusiasm around massive opportunity in this space. We can now accelerate innovation, amp up the team and enhance user experience through a combination of myHQ’s tech solutions, and ANAROCK Group’s business expertise and scale. The hybrid approach to workspaces is on the cusp of an explosion with all companies from startups to big Corporates looking to adopt some version of Work-From-Anywhere model. While today there is some depth of inventory in the metros, to make this model truly successful, tier-II & III cities will need to be the future growth multipliers for India’s flexible workspace ecosystem.”

myHQ Offerings & Revenue Model    

myHQ’s offerings can be broadly split into two buckets. Our pay-per-use FlexiPass allows individuals & teams to access 700+ flexible workspaces across the country through one pass with prices as low as INR 200 a day. All spaces on the FlexiPass come with a standardised & controlled work experience and user does not have to worry about fixed monthly rentals, security deposits & lock-ins.

On the other end is Fixed desks, Cabins & Managed Office platform which allows corporates to choose from 700+ workspaces for leasing their ideal central HQ or satellite offices with highly flexible contracts and a single POC for their workspace needs across the country.      

myHQ also partners with cafes, coffee-shops, & lounges and turns them into daytime coworking spaces to help them monetize their vacant inventory during the day. myHQ business model is specifically geared towards capturing the growing demand for flexible spaces in the country by providing a range of solutions tailor-made for individuals, startups, MSMEs and large enterprises at very attractive price points.

USPs 

myHQ is currently the only flexi-workspace platform to cater to varying needs of companies and individuals in today’s work-from-anywhere world by offering both on-demand needs via their subscription based FlexiPass and dedicated desks & managed offices as a product.          

Also Read: Trend of rising office vacancy broken for the first time since Covid-19

The post ANAROCK Acquires Flexible Workspaces Platform myHQ appeared first on Square Feat India.