BHIVE to add 3 mn sqft over next 2 yrs, eyes Rs 350 cr revenue in FY25

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Bengaluru-based coworking provider BHIVE Workspace has announced plans to double its current footprint, aiming to reach 3 million square feet by the end of FY26 (financial year), according to a company statement. Additionally, the provider targets a revenue of over Rs 350 crore in FY25 and plans to launch an Initial Public Offering (IPO) by FY26.

“Considering our current growth rate, we’re set to add another 3 million square feet to our portfolio by the end of FY26, across all six major cities in India. This expansion aligns with our strategic vision and positions us for an IPO by FY26, demonstrating our market strength and financial stability,” said Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace.

Over the past two years, BHIVE has expanded its managed office portfolio by adding 1.5 million square feet. This rapid growth aligns with the company’s strategy to address the increasing demand for flexible and dynamic workspaces. Recently, BHIVE has introduced several new properties, further enhancing its market presence and capacity.

To support its expansion, BHIVE is partnering with international property consultants including Colliers, Cushman & Wakefield, CBRE, JLL, and Knight Frank. These strategic collaborations are expected to streamline growth and enhance BHIVE’s operations, solidifying its position in the managed office space sector, the company said.

The managed space provider aims to achieve a revenue of over Rs 350 crore in FY25, effectively doubling its growth rate from previous years.