Flipkart Co-Founder New Start-up Leases 100k Sqft Bengaluru Office
Flipkart co-founder Sachin Bansal’s financial services startup Navi has taken up prime office space in Bengaluru’s Koramangala area for its new corporate office. The 110,000 sq. ft of office space is in Prestige RMZ Startech, a Grade A office complex. Earlier this year, cab-hailing firm Ola leased about 400,000 sq. ft of space in the same building, to bring together multiple teams and functions in one facility as it continues to hire and grow its electric business in particular. Bengaluru-based Navi was founded by Bansal in May 2018 after he moved out of Flipkart. “Navi will pay around ?110 per sq ft for the space, which is roughly ?15 crore annually," said one of the people mentioned above, on condition of anonymity. Navi posted consolidated total income of ?222 crore in 2019-20, its first full year of operations, compared with ?12.7 crore in 2018-19. Navi was operational only for a few months in FY19. “Navi has been in active expansion and hiring mode. After making various acquisitions, the company aims to hire in digital lending as well as insurance roles in Bengaluru," said the second person, asking not to be named.
Tags : News/Views Leases Start-up Flipkart Co-Founder Bengaluru Office Sachin Bansal