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Urban Vault Leases 50,000 Sq Ft Office Space in Bengaluru CBD

2025-05-26

Managed flexible workspace provider Urban Vault has leased 50,000 square feet of premium office space in Bengaluru’s Central Business District (CBD). The new facility spans three floors at Prestige Obelisk on Kasturba Road and will accommodate nearly 1,000 seats.

The per-seat cost is close to Rs 10,000. This lease adds to Urban Vault’s portfolio of over two million square feet and more than 30,000 desks across India. The land is owned by Zackria Hashim and Sadath Ali Kahan, co-founders of KRPL Ventures LLP, who currently own multiple floors in the building.

Prestige Obelisk is an 11-storey Grade A commercial building developed by Prestige Group, offering 180,000 square feet of office space.

In October last year, Urban Vault leased 200,000 square feet in Bengaluru’s CBD across two buildings, HM Square and Prestige Obelisk, to meet growing corporate demand.

In the 2024-25 fiscal year, Urban Vault posted a turnover of Rs 1.20 million, with 18 per cent profit after tax and an EBITDA margin of 30 per cent.

Source: Hindustan Times