by THO
Bengaluru-based coworking player BHIVE Workspace is looking to expand its footprint by 3 million square feet over the next two years, the company said in a statement on August 20.
The flexible workspace provider is currently present across more than 27 locations spanning over 1.8 million square feet with 28,000-plus billable seats.
Also Read: Co-working firm BHIVE Workspace likely to launch IPO in the next two years
“Looking at our current growth rate, we’re poised to add another 3 million square feet to our portfolio by the end of FY26, across all the 6 major cities in India,” said Shesh Rao Paplikar, founder and CEO of BHIVE Workspace. The company, which currently operates in Mumbai and Bengaluru, did to name the remaining four cities.
BHIVE Workspace is eyeing over ₹350 crore in revenue during the ongoing financial year, the company statement said. In the last fiscal, BHIVE clocked ₹170 crore in total revenue alongside a net profit of ₹7 crore.
Also Read: BHIVE Workspace leases 42,000 sq ft office space from Brigade Group in Bengaluru
“This expansion aligns with our strategic vision and positions us for an Initial Public Offering (IPO) by FY26, showcasing our market strength and financial stability,” Paplikar said.
The co-working brand aims to add 1 million square feet to its total footprint in the ongoing financial year. Of this, about 7-8 lakh square feet would be in the company’s home base Bengaluru.
Recent addition
Earlier this year, BHIVE leased seven commercial units spread across an area of more than 62,000 sq ft in Mumbai’s Bandra Kurla Complex at a monthly rental fee of over 1.25 crore for a period of five years.
Last month, BHIVE leased 42,000 square feet of office space in Garudachar Palya of Mahadevapura suburb in Bengaluru, marking its second collaboration with the Brigade Group.
Also Read: BHIVE coworking leases commercial space from Adani Realty for ₹1.39 crore a month
