Pune

Urban Vault, a leading brand for managed flex spaces, has entered the Pune market with the launch of its latest workspace at Ambrosia Galaxy, Baner High Street.

Spanning 35,000 sq. ft. and offering 700 seats, this state-of-the-art facility is designed to cater to the evolving workspace needs of enterprises, startups, and SMEs in Pune’s thriving business ecosystem.

With per-seat pricing ranging from INR 6,500 to 8,000, Urban Vault aims to provide businesses with flexible, scalable, and cost-effective office solutions.

Speaking about the launch, Mr. Amal Mishra, Co-founder and CEO of Urban Vault, said:
“Pune is a rapidly growing market with a strong demand for flexible office solutions. Our entry into this city is driven by the increasing need for high-quality, managed workspaces that cater to diverse business requirements. At Urban Vault, we are focused on delivering workspaces that are not just aesthetically pleasing but also functional, adaptable, and conducive to growth.”

Urban Vault’s expansion into Pune is part of its broader strategy to capitalize on the city’s growing demand for hybrid and managed office spaces. The Baner location offers seamless connectivity, premium amenities, and an ideal work environment for companies looking to scale efficiently while maintaining operational flexibility.

Following the success of its Baner launch, Urban Vault plans to expand further across Pune, targeting key commercial hubs such as Balewadi, Hinjewadi, Viman Nagar, Kalyani Nagar, and Kharadi, while also exploring opportunities in emerging business districts like PCMC. The company’s growth strategy focuses on scalability, sustainability, and fostering a dynamic, community-driven work environment.

Currently, Urban Vault operates over 20 lakh sq. ft. of office space and has more than 30,000 desks in its portfolio. With a strong presence in Bengaluru, where it operates over 65 centers, the company is set to expand further. It is actively exploring new locations to grow its portfolio, contributing to its ongoing business expansion and revenue growth.

Urban Vault is committed to redefining the future of work by integrating advanced technology solutions and sustainability features into its office spaces. Its expansion aims to create a collaborative ecosystem that enhances innovation and productivity for businesses of all sizes.

For the 2024-25 fiscal year, Urban Vault is projected to achieve a turnover of Rs 120 crore, with an impressive 18% profit after tax (PAT) and 70%+ year-over-year growth. The company’s EBITDA stands at 30%, demonstrating its commitment to sustainable and profitable growth

ABOUT URBAN VAULT

Founded in 2018, UrbanVault is a bootstrapped managed office space provider based in Bangalore, achieving impressive growth and profitability without relying on external funding. The company has crossed Rs 100 crore turnover mark in FY 2023-24, with an 18% profit after tax (PAT) and consistent year-over-year growth, showcasing its strong financial discipline and commitment to sustainable business practices.

UrbanVault’s decision to self-fund its expansion has allowed it to maintain full control over its operations, ensuring that every step aligns with its vision for long-term success. Over the past five years, the company has expanded significantly, growing from a modest 40 seats to over 30,000 seats across its network of office spaces. Spanning over 2 million square feet and multiple cities, UrbanVault’s portfolio demonstrates its commitment to delivering value to a diverse range of clients.

UC Punawale Skyscrapers LLP has acquired a land parcel in Punawale in Pimpri-Chinchwad, Pune, for Rs. 129 crore, according to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR) https://igrmaharashtra.gov.in. The transaction was officially registered in February 2025.

Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards said, “Pimpri-Chinchwad has firmly established itself as a key residential market, consistently accounting for 40-45% of Pune’s overall quarterly residential registered transaction volume. Its appeal lies in a balanced mix of affordability and connectivity—offering working professionals’ seamless access to key commercial hubs via NH-48, while maintaining a price advantage over central Pune. This growing demand in localities such as Punawale, Ravet, and Tathawade amongst others has drawn strong interest from both national and local developers. Recent land acquisitions further validate developer confidence, with both national and local players expanding their portfolios to cater to this demand. Given its strategic location and availability of low-to-mid segment properties, the localities in Pimpri-Chinchwad are poised for sustained residential growth owing to end-user demand in the coming years.”

Punawale, a rapidly developing suburb in Pimpri-Chinchwad, Pune, is emerging as a prime residential hub due to its proximity to Hinjewadi IT Park and seamless connectivity via Mumbai Highway (NH-48). With upcoming gated communities, reputed developers, and improving infrastructure, the area is attracting homebuyers and investors. Easy access to schools, hospitals, and retail hubs like City One Mall makes Punawale a well-rounded choice for modern living.

According to IGR property registration documents reviewed by Square Yards, the land parcel involves a total transacted area of 2.38 hectare (~28,465 square yards), with a stamp duty of Rs.9.03 crore and a registration fee of Rs. 30,000.

According to Square Yards’ Project Data Intelligence, 5,169 transaction amounting to a gross transaction value of Rs. 2,827 crore were registered with IGR in Punawale in Pimpri Chinchwad, between January 2024 and December 2024. Currently, the average price of residential property in Punawale stands at Rs. 9,666 per sq. ft. UC Punawale Skyscrapers LLP is a Limited Liability Partnership firm that was established on January 17, 2025, in India. Its registered office is located in Pune City, Maharashtra.

Westcon Space Pvt Ltd, a subsidiary of the Solitaire Group, has acquired around four hectares (10 acres) of land in Wagholi, Pune, for ₹129 crore. The acquisition was finalized on February 6, 2025, through four separate agreements. The total stamp duty paid amounted to over ₹9 crore, with an additional registration fee of ₹1.20 lakh.

According to property registration records accessed via Propstack.com, the land was sold by the Shitale family, along with two individuals, Anuradha NDD and Jaymala Navkishore. Despite efforts to contact the sellers and representatives of Westcon Space Pvt Ltd, no comments have been provided on the deal.

Wagholi, located in northeastern Pune, has emerged as a rapidly developing real estate hub, owing to its proximity to Kharadi, a significant IT and business district. The area has become increasingly popular among professionals working in the IT sector due to its affordability compared to nearby areas. Kharadi hosts several multinational corporations, technology companies, and commercial centers, making Wagholi a preferred residential destination for those seeking affordable housing near their workplaces.

According to local real estate brokers, the current market rate for residential apartments in Wagholi is about ₹10,000 per square foot. Rental prices for a 2 BHK apartment range between ₹20,000 and ₹30,000 per month. In recent years, Wagholi has attracted numerous developers, resulting in the construction of residential complexes, commercial spaces, and mixed-use developments.

Infrastructure upgrades, such as road expansions and improved connectivity to Pune’s central business districts, have further boosted the area’s appeal. The Pune Municipal Corporation has been focusing on enhancing civic amenities, including water supply, waste management, and road conditions.

Pune Sees Increased Land Transactions

Westcon Space Pvt Ltd’s land acquisition is part of a broader trend of rising land transactions in Pune and other major metropolitan areas. In a similar move, Prestige Exora Business Parks Ltd, a subsidiary of Bengaluru’s Prestige Estates, bought a 4.57-acre land parcel in Kharadi for ₹200 crore in April 2024. The seller in that transaction was Pune-based B U Bhandari M&M Realtors LLP.

Land acquisitions in Pune have surged as developers look to capitalize on the growing demand for both residential and commercial properties. The city’s real estate sector has remained robust, driven by a strong job market, expanding infrastructure, and consistent demand for housing.

National Surge in Land Deals

The increase in land transactions in Pune mirrors a national trend of rising real estate activity. A report by CBRE India revealed that land deals in India rose by around 47% year-on-year in 2024. Over 2000 acres of land were transacted in the top eight cities of India, with 135 land deals recorded in 2024, compared to 90 in 2023.

The residential sector has been the key driver of these land acquisitions, with developers focusing on housing projects to meet the growing demand in both urban and suburban areas. Cities like Delhi-NCR, Bengaluru, Mumbai, Chennai, and Pune have seen the most activity. This surge in land transactions signals a positive outlook for India’s real estate market, with developers preparing for future growth in housing, commercial, and mixed-use developments.

The purchase of land by Westcon Space Pvt Ltd in Wagholi is in line with the ongoing expansion of Pune’s real estate market. As IT companies continue to grow in Kharadi and surrounding areas, the demand for both residential and commercial spaces is expected to rise. Developers are likely to focus on integrated townships, affordable housing, and premium residential projects to cater to diverse buyer segments.

Peninsula Land Limited (PLL), part of the Ashok Piramal Group, is proud to announce the recent successful launch of Peninsula Centre, the latest addition to company’s mixed used landscape in Pune. Strategically located near the Mumbai-Pune Expressway in Gahunje, this commercial retail project has already garnered significant traction, with over 70% of the inventory sold at launch.

As one of the first organised commercial retail space in the Gahunje-Mamurdi area, Peninsula Centre is set to become a vital part of the local community. Positioned just 60 feet from the main road and near key residential projects like AddressOne and AshokVann, the development provides unmatched convenience for both business owners and consumers. The project brings modern commercial retail spaces to a location previously unexplored by organised retail options.

Spread across G+3 floors, Peninsula Centre houses 52 thoughtfully designed commercial retail spaces ranging from 222 to 305 square feet, offering businesses customisable spaces to cater to their needs. Wide passageways, ample parking, and strong security measures ensure a seamless experience for customers and business operators alike. This forward-thinking development was met with strong demand, as reflected by the 70% sell out at the project’s initial offering.

Peninsula Centre is ideally positioned to serve the growing Gahunje-Mamurdi corridor, an area experiencing rapid growth due to nearby residential and educational developments. By offering a centralised location for commercial retail, the project is poised to boost local commerce while providing a modern shopping experience for the surrounding population.

“With an established and growing residential community in the area, there is a clear need for retail commercial spaces to serve its residents. Peninsula Centre is being developed to fulfil this requirement, fostering both business growth and enhancing the quality of life for the community. Looking ahead, we have plans for further retail commercial developments to meet the evolving needs of the area.”  said Siddharth Setia, President – Business Development, Project Design and Revenue, Peninsula Land Limited.

About Peninsula Land Ltd

With over 100 years of legacy as part of the Ashok Piramal Group, Peninsula Land Limited is known for setting benchmarks in real estate across major Indian cities. From residential landmarks like Ashok Towers and Celestia Spaces to commercial ventures like Peninsula Business Park & Peninsula Centre, PLL continues to deliver high-quality, thoughtfully designed projects that transform local landscapes. With a strong portfolio across Mumbai, Pune, Bangalore, and beyond, the company remains committed to excellence in project delivery and customer satisfaction.