BHIVE Workspace Embarks on Ambitious Expansion Plan, Aims to Add 3 Million Sq Ft in 2 Years
Coworking firm BHIVE Workspace to expand its footprint by 3 million square feet over the next two years, targeting ₹350 crore in revenue during FY 2024-25.
CoworkingBhive WorkspaceExpansion PlanIpoFlexible WorkspaceReal EstateAug 20, 2024
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.
Frequently Asked Questions
What is BHIVE Workspace's expansion plan?
BHIVE Workspace plans to add 3 million square feet to its portfolio over the next two years, targeting ₹350 crore in revenue during FY 2024-25.
Where is BHIVE Workspace currently operating?
BHIVE Workspace is currently operating in Mumbai and Bengaluru.
What is the company's revenue target for FY 2024-25?
BHIVE Workspace is eyeing over ₹350 crore in revenue during the ongoing financial year.
What is the company's plan for an Initial Public Offering (IPO)?
BHIVE Workspace aims to go for an IPO by FY26, showcasing its market strength and financial stability.
Who is the founder and CEO of BHIVE Workspace?
Shesh Rao Paplikar is the founder and CEO of BHIVE Workspace.
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