Urban Vault Leases 1.2 Lakh Sq Ft in CBD Bengaluru

Urban Vault, a rapidly growing managed office space provider, has taken on lease 1.2 lakh square feet of premium office space in Bengaluru’s Central Business District (CBD), to meet the surging demand from medium to large enterprises. The strategic expansion spans key properties including HM Square on Residency Road, Prestige Obelisk on Kasturba Road, and Pardhanani Wilshiren on MG Road, reflecting the company’s ability to cater to corporates seeking top-tier, flexible office solutions in a prime urban area.

Founded in 2018, Urban Vault now boasts a substantial portfolio of over 2 million square feet across Bengaluru, housing more than 30,000 desks. The firm’s recent move strengthens its presence in the CBD, taking its total space in the area to 1.5 lakh square feet. “There is a significant demand for managed office spaces in Bengaluru’s CBD, driven by corporates looking for modern, well-equipped work environments,” said the company’s founder. This demand stems largely from multinational corporations setting up Global Capability Centres (GCCs) in major Indian cities, with Bengaluru standing out due to its skilled talent pool and relatively affordable real estate. Urban Vault’s business model operates on a mix of pure rental agreements and revenue-sharing arrangements with property owners, offering flexible workspace options ranging from Rs 8,000 to Rs 10,000 per desk per month. The company’s ambitious expansion plans extend to cities like Gurgaon, Pune, and Mumbai, marking its pan-India growth trajectory.

Urban Vault’s emphasis on shared office spaces aligns with sustainability trends, offering companies the flexibility to scale operations while optimising resource use. The efficient use of space helps reduce the environmental footprint of businesses, contributing to eco-friendly urban development. By creating adaptable workspaces, the firm supports companies in managing their office needs more sustainably, without requiring large-scale real estate investments. During the fiscal year 2023-24, Urban Vault achieved a turnover of over Rs 100 crore, with an impressive 18% profit after tax (PAT). Its operational centres currently report an occupancy level of 91%, highlighting the growing popularity of flexible office solutions among corporate India.