Co-working space provider UrbanVault has entered into the Gurugram office market with the start of two new centres totalling 35,000 square feet area and will invest more than ₹100 crore this fiscal on expansion.

The two new centres have been launched on Golf Course Road, Sector-54, Gurugram, the Bengaluru-based UrbanVault said in a statement on Monday.

Amal Mishra, CEO of UrbanVault, said, "Delhi NCR is one of the most important office markets in the country and plays a pivotal role in our national growth strategy... We plan to invest over ₹100 crore in 2025-26 to fuel our expansion across key commercial hubs in India." The two new centres, housed in Paras Twin Tower at Gurugram, have a combined 35,000 square feet of Grade A workspace and about 700 premium seats. The per-seat pricing starts at ₹12,000.

UrbanVault said the company is actively exploring new developments in other high-potential micro-markets of Gurugram such as Sector 44, Udyog Vihar and Golf Course Extension Road. It is also looking to enter Noida market in the near future.

"We are witnessing strong demand across all our markets and expect to close FY26 with an annual revenue run rate of over ₹250 crore. Our growing pipeline of projects, backed by robust market fundamentals and customer trust, positions us well for sustained long-term growth," Mishra said.

UrbanVault currently operates a portfolio of over 2.5 million sq ft and 40,000 seats, offering customised workspace solutions to businesses of all sizes. It has a presence in Bengaluru, Pune and Gurugram.

On the potential of Gurugram market, real estate consultant Vestian CEO Shrinivas Rao said, "Flex spaces have been a major driving force in the Indian office market lately. It accounted for 13 per cent of the pan-India absorption in the past four quarters, with a significant contribution from Gurugram." As per Vestian data, nearly 14 lakh square feet of office spaces were leased by co-working operators in Gurugram last calendar year.

"The presence of high-quality Grade-A office spaces commanding premium rentals, coupled with substantial demand from major conglomerates and the rising prominence of GCCs, has significantly propelled the growth of flex spaces in Gurugram," Rao added.

Published on June 30, 2025