Real Estate

BHIVE Workspace Embarks on Ambitious Expansion Plan, Aims to Add 3 Million Sq Ft in 2 Years

2024-08-20 · GeoSquare

BHIVE Workspace, a leading coworking player in India, is set to expand its presence across the country with an ambitious plan to add 3 million square feet to its portfolio over the next two years. The company, which is currently present across 27 locations spanning over 1.8 million square feet with 28,000-plus billable seats, aims to achieve this feat by the end of FY26.

The Bengaluru-based flexible workspace provider is eyeing over ₹350 crore in revenue during the ongoing financial year, a significant jump from its last fiscal revenue of ₹170 crore alongside a net profit of ₹7 crore. This expansion plan aligns with the company's strategic vision and positions it for an Initial Public Offering (IPO) by FY26, showcasing its market strength and financial stability.

BHIVE Workspace is currently operating in Mumbai and Bengaluru, and is expected to expand to four more major cities in India. While the company did not disclose the names of the cities, it is likely to target key markets such as Delhi-NCR, Hyderabad, and Pune.