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

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.

Bengaluru / July 24, 2023 / 10:05 IST
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Byju's office at Kalyani Tech Park

Byju’s, India’s most valued edtech company, has vacated its largest office space in Bengaluru, as it seeks to cut costs and shore up liquidity amid a delay in funding. It has also given up a portion of another office space in the city, sources said.

Byju’s has three office spaces in Bengaluru, including the 5.58 lakh square feet property in Kalyani Tech Park that it has vacated. The company has asked the employees to work out of its other premises or from their homes from July 23, at least six employees confirmed to Moneycontrol. The company has also given up two out of nine floors it had in Prestige Tech Park, the employees said.

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"Byju's has over 3 million square feet of rented spaces across the country to support its requirements. Expansion and reduction in office space is based on changes in working policies and business priorities which is very regular and is aimed at boosting operational efficiencies," a spokesperson for Byju's said.

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