Urban Vault leases 50,000 sq ft of office space in Bengaluru's CBD area

Bengaluru: Urban Vault said its new office space spans three floors at Prestige Obelisk in the Central Business District and will accommodate nearly 1,000 seats

Managed flexible workspace provider Urban Vault has leased 50,000 sq ft of premium office space in Bengaluru's Central Business District (CBD), the company said.

Managed flexible workspace provider Urban Vault has leased 50,000 sq ft of premium office space in Bengaluru's Central Business District (CBD). (Representational Image) (Unsplash/kate_sade)

Located across three floors at Prestige Obelisk, on Kasturba Road, the facility will accommodate close to 1,000 seats, it said in a statement.

The per-seat cost in the facility is close to ₹10,000, the company said. This marks an addition to Urban Vault’s portfolio of over 2 million sq ft and over 30,000 desks across India.

The land was originally owned by Zackria Hashim and Sadath Ali Kahan, co-founders of KRPL Ventures LLP, who currently own multiple floors in the building. Urban Vault has leased its new space from them.

Prestige Obelisk, developed by Prestige Group, is an 11-storey Grade A commercial building with 1.8 lakh sq ft of office space.

"Our expansion into Prestige Obelisk reinforces our commitment to deepening Urban Vault’s footprint in Bengaluru’s CBD. This iconic property reflects the standards we strive for—prime location, architectural excellence, and unmatched client experience. As demand grows for premium managed workspaces, we’re focused on bringing world-class infrastructure to India’s top business districts," Amal Mishra, founder and CEO, Urban Vault, said.

In the 2024-25 fiscal year, Urban Vault achieved a turnover of ₹120 crore, with an 18% profit after tax (PAT) and over 70% year-over-year growth. The company's EBITDA stands at 30%.