Launch · Professional & Local Services

IndiQube signs 10-year lease with BlackRock for Rs 410 crore

By Startup Enthusiast · 16 September 2025

What they do

IndiQube provides managed offices, coworking spaces, and enterprise hubs across 15 cities

BlackRock Services India leased 143,127 sq ft at IndiQube Symphony in Bengaluru for 10 years

The deal is among the largest enterprise flexible workspace transactions in India in recent quarters

BlackRock Services India Pvt. Ltd. signed a 10-year lease for 143,127 sq ft at IndiQube Symphony on MG Road, Bengaluru CBD.
The monthly rent is Rs 2.72 crore at Rs 190 per sq ft.
The security deposit is Rs 21.75 crore.
The total rental outlay over 10 years is Rs 410 crore, with 5% annual escalations.
The lease begins October 1, 2025, covering ground plus five floors.
The lease was registered in August 2025; documents were reviewed by Propstack.
This is among the largest enterprise flexible workspace transactions in India in recent quarters.

Flexible space accounted for 19% of total leasing in H1 2025, up 48% YoY to 6.5 million sq ft (Colliers).
Bengaluru contributed a third of flexible-space leasing activity in H1 2025.
Bengaluru commands 26% of India's total Grade A office stock of 1.03 billion sq ft (ICRA).

IndiQube provides managed office spaces, coworking spaces, enterprise hubs, satellite offices, and design-build services.
Brands include IndiQube Grow (flexible workspaces), DesignQube (personalised workplaces), IndiQare (workspace management services), IndiQube Eco (sustainable spaces), and MiQube (integrated technology suite).
As of March 2025, IndiQube operated 115 centers across 15 cities, managing 8.4 million sq ft and 186,719 seats.
Bengaluru alone has 65 centers and 5.43 million sq ft.

IndiQube aims to add 3 million sq ft over three years and expand its managed portfolio to 11.47 million sq ft by 2028.
IndiQube allocated over Rs 460 crore from its July 2025 IPO proceeds for capital expenditure on new centers.