BHIVE Workspace, a managed office and coworking space provider, is looking to nearly double its current footprint and is targeting 3 million square feet of operational space by the end of FY26.

The Bengaluru-based company has expanded its portfolio of managed office space by 1.5 million square feet in the last two years. This rapid growth underscores the company’s aggressive strategy to meet the increasing demand for flexible and dynamic workspaces. In addition, BHIVE has launched several new properties, further strengthening its market presence and capacity.

To drive this ambitious expansion, BHIVE is partnering with international real estate consultants (IPCs), including Colliers, Cushman & Wakefield, CBRE, JLL and Knight Frank. This collaboration is designed to streamline the expansion process and increase BHIVE’s operational efficiency, and is an important step in cementing its leadership position in the managed office space sector.

BHIVE targets a revenue of over Rs 350 crore by financial year 2024-25. This financial stability not only supports BHIVE’s expansion plans but also demonstrates its resilience and competitive advantage in a rapidly evolving market. Notably, BHIVE has emerged as the third largest flexible lease provider in Bengaluru in terms of number of seats and recently expanded its operations to Mumbai.

Shesh Rao Paplikar, Founder and CEO, BHIVE Workspace, highlighted the company’s future ambitions, “In the last two years, we have added 1.5 million square feet. Given our current growth rate, we are poised to expand our portfolio by another 3 million square feet across all six major cities of India by the end of FY26. This expansion is in line with our strategic vision and positions us for an Initial Public Offer (IPO) by FY26, underscoring our market strength and financial stability.”

BHIVE Workspace is one of the largest and most comprehensive managed office and coworking space providers in India. BHIVE offers multinational companies and enterprises diverse solutions. Its commitment to innovation and focus on community and quality of services is redefining the landscape of future workspaces. Bhive currently has 28,000 operational desks and plans to add 60,000 desks with a total area of ​​4.8 million sq. ft. by FY2026. India’s flexible office space market has witnessed a significant growth spurt, driven by a rising need for managed space solutions from both large enterprises and agile startups across various cities and industries, especially in the wake of the pandemic.

The operational flexible office space in India’s top seven cities now stands at over 53 million sq ft, a 75% increase from the pre-pandemic level of about 30.3 million sq ft. This current space accommodates around 839,250 seats, representing an overall office stock penetration of around 4.7%.

Due to this strong growth, JLL India has identified India as one of the fastest growing flexible office markets globally. Due to continued high demand, the supply of flexible office space is expected to double to 106 million square metres within the next five years.