🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Byju's vacates massive 4 lakh sq ft office space in Bengaluru amid ongoing financial challenges: Report

IndianStartupNews

IndianStartupNews · 1y ago

Byju's vacates massive 4 lakh sq ft office space in Bengaluru amid ongoing financial challenges: Report

Bangalore-based edtech firm Byju's has reportedly reduced its office space in an effort to cut costs amid ongoing financial challenges. The company has vacated a 400,000 sq ft property at Prestige Tech Park, with lease termination occurring earlier this year. Byju's has also received a legal notice for non-payment of rent for a 500,000 sq ft office space at Kalyani Tech Park. In addition to these moves, the company has also ceased operations at other office locations, signaling a strategic pullback from physical office space usage. Byju's parent company, Think and Learn, has received a commitment of $300m from investors amid financial troubles.

Related News

Byju's vacates 4 lakh sq ft Bengaluru office space to cut costs

Economic Times

Economic Times · 1y ago

Byju's vacates 4 lakh sq ft Bengaluru office space to cut costs

Indian edtech company, Byju's, has downsized its office space in Bengaluru as part of its cost-cutting measures. It vacated a 400,000 sq ft property at Prestige Tech Park earlier this year, after terminating the rental agreement and adjusting the deposit against rent defaults. The firm is facing disputes with other landlords, including Kalyani Developers, who have sent a legal notice for defaulting on rental payments for a 500,000 sq ft office space at Kalyani Tech Park. Byju's has been struggling financially and has given up office space in other locations in the past as well.

Byju’s vacates its biggest office space in Bengaluru to save costs

Money Control

Money Control · 1y ago

Byju’s vacates its biggest office space in Bengaluru to save costs

Edtech company BYJU'S has vacated its largest office space in Bengaluru to cut costs. The move comes as a cost-saving measure amid changing work dynamics and to optimize expenses. BYJU'S decision to vacate its biggest office space reflects the ongoing trend of companies reassessing their office needs and expenses due to the impact of the COVID-19 pandemic. Over the weekend, Moneycontrol visited Kalyani Tech Park and the two remaining offices of Byju’s — IBC Knowledge Park, Bannerghatta and Prestige Tech Park, Kadabeesanahalli, to confirm the development.

Byju's vacates offices to cut costs, shifts to remote work, says report

Livemint

Livemint · 1y ago

Byju's vacates offices to cut costs, shifts to remote work, says report

Indian edtech unicorn Byju's has vacated all its office spaces across the country, keeping only its headquarters in Bengaluru, as part of a cost-cutting measure amid ongoing financial troubles. The move comes after a dispute with investors over funds raised in a rights issue offering. Byju's has directed employees to work from home indefinitely, except for those working in tuition centres. The company has been gradually shutting down office locations as leases expire. Byju's had earlier disbursed portions of pending salaries for February using non-rights issue capital, with the remainder expected to be settled soon.

WeWork India signs lease agreements for co-working centres in Bengaluru, Hyderabad

Economic Times

Economic Times · 1y ago

WeWork India signs lease agreements for co-working centres in Bengaluru, Hyderabad

WeWork India has leased 2.72 lakh sq ft of office space in Bengaluru and Hyderabad to open two new co-working centres with around 4,000 desks. The company is expanding in South India and has signed lease agreements for Manyata Redwood in Bengaluru and RMZ Spire in Hyderabad. WeWork India has grown its portfolio to over 6.5 million sq ft across 50 locations in various cities in India. The Indian business is not affected by the bankruptcy proceedings of WeWork Global.

Troubled edtech firm Byju's vacates 4 lakh sq ft office space in Bengaluru: Report

Business Today

Business Today · 1y ago

Troubled edtech firm Byju's vacates 4 lakh sq ft office space in Bengaluru: Report

Edtech company Byju's has reduced its office space in Bengaluru by terminating its lease with Prestige Tech Park. The move comes as the financially struggling company aims to cut costs. Byju's has also been facing disputes with other landlords, including a legal notice for failing to pay rent on office space at Kalyani Tech Park. The company still owns the vacant properties but is not currently utilizing them. Byju's recently received commitments of $300 million from investors for its ongoing rights issue.

IndiQube launches ‘IndiQube Canvas’, an office interiors experience centre

YourStory

YourStory · 9m ago

IndiQube launches ‘IndiQube Canvas’, an office interiors experience centre

IndiQube, a workplace solutions provider, has launched 'IndiQube Canvas' in Bengaluru. Spanning 25,000 sq. ft., the facility offers various office setups and contemporary features for clients to design their ideal workspace. IndiQube aims to provide a fully immersive experience by showcasing a range of office interior solutions, such as furniture styles, partitions, and design elements. Founded in 2015, IndiQube operates 6.5 million sq. ft. of office space across multiple cities and has raised $45 million in funding. 'IndiQube Canvas' aims to cater to India's unique market demand for both modernity and affordability.

Embassy REIT to invest Rs 3,800 crore in 4 years to complete construction of 61 lakh sq ft office space

Money Control

Money Control · 1y ago

Embassy REIT to invest Rs 3,800 crore in 4 years to complete construction of 61 lakh sq ft office space

Embassy Office Parks REIT, the first publicly listed Real Estate Investment Trust in India, plans to invest Rs 3,800 crore ($511 million) over the next four years to complete the construction of 61 lakh sq ft of office space in Bengaluru. The company aims to meet the rising demand for premium office spaces from global capability centres and domestic players. The investment will primarily be funded through debt. Additionally, Embassy REIT has signed an agreement to acquire Embassy Splendid TechZone, a Grade-A business park in Chennai.

Arihant Foundations to invest Rs 650 crore in real estate, forays into Bengaluru

Money Control

Money Control · 1y ago

Arihant Foundations to invest Rs 650 crore in real estate, forays into Bengaluru

Chennai-based real estate developer, Arihant Foundations and Housing, plans to invest INR 650 crore in both Chennai and Bengaluru within the fiscal year 2025. The company intends to invest INR 150 crore in developing grade A office spaces in Bengaluru and the remaining amount in Chennai real estate. Arihant aims to develop around 0.5 million sq ft of commercial space and 1 million sq ft of residential space in both cities. The company expects to grow its top line by 15-20% in FY25 and sees increasing interest from buyers in Chennai as an investment opportunity.

WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai

Money Control

Money Control · 11m ago

WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai

WeWork India has renewed its lease on a 140,000 sq ft space from Nesco at its Goregaon East office complex for five years. The lease agreement, effective from August 1, includes a rent of INR 162 per sq ft per month, amounting to a total of INR 27 crore per year. The agreement also includes two escalations in 2025 and 2028. WeWork India, majority-owned by Embassy Group, operates independently from WeWork Inc and manages around 8 million sq ft of office spaces across multiple cities in India. Embassy Group plans to make WeWork India public in the next two years.

BYJU’s Trims Costs, Vacates 4 Lakh Sq Ft Bengaluru Office Space

Inc42 · 1y ago

BYJU’s Trims Costs, Vacates 4 Lakh Sq Ft Bengaluru Office Space

BYJU'S, the troubled edtech giant, has vacated a 400,000 square feet property at Prestige Tech Park in Bengaluru as part of cost-cutting measures. The rental agreement for the property was terminated earlier this year and the company is also facing disputes with other landlords. Moreover, BYJU'S is dealing with ongoing challenges such as losses, conflicts with investors, and legal disputes. The parent entity, Think and Learn, has secured a commitment of $300 million from investors for an ongoing rights issue. BYJU'S reported a net loss of INR 8,245.2 crore in FY22 due to losses from acquisitions.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Meta acquires voice startup Play ...

Exclusive: Porter turns profitabl ...

Who is Varun Mohan, the Windsurf ...

Download the medial app to read full posts, comements and news.