Urban Vault, a managed office space provider in India, has leased 1.2 lakh square feet of office space in Bengaluru’s central business district (CBD) to address the increasing demand from corporates.
Since its establishment in 2018, Urban Vault has grown its portfolio to over 2 million square feet, accommodating more than 30,000 desks in the city. The newly leased spaces are located in key office buildings, including HM Square (formerly HM Icon) on Residency Road, Prestige Obelisk on Kasturba Road, and Pardhanani Wilshiren at MG Road.
Founder Amal Mishra highlighted the strong demand for managed office space in the CBD, stating, “We are expanding our facilities to cater to medium and large enterprises seeking premium workspace.” With this addition, Urban Vault now offers a total of 1.5 lakh square feet of space in the CBD.
Mishra noted that multinational companies are increasingly establishing Global Capability Centres (GCCs) across major Indian cities. “Bengaluru has a competitive edge due to its affordable real estate and skilled talent, making it an attractive destination for corporates,” he said.
The shift towards flexible workspace has become integral to corporate real estate strategies, with companies embracing managed office solutions for their flexibility and cost-saving benefits. “Corporates can avoid the burden of managing physical infrastructure and housekeeping,” Mishra explained.
Urban Vault operates on a rental basis and through revenue-sharing models, offering desks priced between INR 8,000 and 10,000 per month. The company plans to expand to Gurgaon in the next quarter, with further growth in Pune and Mumbai.
For the fiscal year 2023-24, Urban Vault reported a turnover exceeding ₹100 crore, achieving an 18% profit after tax (PAT) and maintaining a high occupancy rate of 91% across its operational centers.
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