Urban Vault Expands in Bengaluru CBD with 50,000 Sq. Ft Lease at Prestige Obelisk

Coworking space operator Urban Vault has leased 50,000 sq. ft of premium office space in the heart of Bengaluru’s Central Business District (CBD), further entrenching its presence in the city’s premier commercial belt.

The new office, which will have three floors at Prestige Obelisk on Kasturba Road, will house nearly 1,000 workstations, the company said. With a cost of around ₹10,000 per seat, the relocation matches Urban Vault’s strategy of providing upscale, managed office solutions to corporates looking for good infrastructure in choice locations.

“This growth is in line with our focus on Bengaluru’s CBD as well as bringing world-class office spaces to India’s top business destinations,” said Amal Mishra, founder and CEO of Urban Vault. “Prestige Obelisk excels on architecture as well as locational attributes two major factors the Urban Vault brand focuses on.”

The Prestige Obelisk, an 11-storey Grade A commercial building developed by the Prestige Group, houses a total built-up area of 1.8 lakh sq.ft. The recently leased premises were purchased from Sadath Ali Kahan and Zackria Hashim, co-founders of KRPL Ventures LLP, who own several floors in the building.

Urban Vault’s newest lease contributes to its expanding national portfolio, which now measures more than 2 million sq ft and 30,000 workstations in India. This is not the first move for the company in the CBD zone Urban Vault leased 2 lakh sq ft in two other central buildings in October 2023: HM Square on Residency Road and another space at Prestige Obelisk.

Financially, the company has also experienced strong growth. In FY 2024-25, Urban Vault recorded a turnover of ₹120 crores, an 18% profit after tax, and a healthy 30% EBITDA margin. Year on year, the company has recorded over 70% growth, indicating healthy market demand for its premium managed office solutions.