Urban Vault has formed a strategic partnership with Green SM, the electric ride-hailing service backed by Vietnam's Vingroup, to provide managed office spaces across India as the company begins operations. Urban Vault has opened Green SM's first Indian office, a 16,000 sq. ft. managed workspace at Paras Twin Towers on Golf Course Road in Gurugram, which will serve as an operational hub for the app-based all-electric taxi service. Green SM commenced operations in India on 5 June 2026, with Delhi-NCR as its initial market and plans to expand to other major cities.

Under the partnership, Urban Vault currently supplies approximately 500 seats for Green SM across locations and intends to scale capacity to nearly 1,000 seats by year end to support the company’s expansion strategy. The workspace provider will deliver managed office solutions in Bengaluru, Gurugram and other centres to support recruitment, operations and local coordination. Urban Vault characterised the Gurugram facility as the start of a long-term association with a global green mobility company.

Urban Vault said its national portfolio has grown to over 2.80 million (mn) sq. ft., managing more than 70,000 seats across more than 80 locations in Bengaluru, Pune and Gurugram among other cities. The company reported a turnover of Rs 2.12 billion (bn) for FY2025–26, an annual revenue run rate of about Rs 3.00 billion (bn) and a target to reach Rs 3.50 billion (bn) in FY27, reflecting rapid growth and strong margins. The firm highlighted an EBITDA margin of 26 per cent and a PAT margin of 15 per cent as evidence of financial discipline.

Founded in 2018, Urban Vault said it has self-funded expansion since inception and has grown from 40 seats to a large national network serving multinational corporations and high-growth startups. The company noted that retaining control over operations has enabled consistent strategic direction while scaling workforce capacity and geographic reach. The partnership with Green SM underlines demand from global entrants for flexible, scalable and operationally efficient workspace solutions as they establish and grow in India.