Byju's vacates largest office space in B'luru amid funding delay

NT Correspondent

Bengaluru: Byju's, India's leading edtech company, has recently made adjustments to its office spaces in Bengaluru in response to cost-cutting measures and liquidity concerns caused by a funding delay.

As part of these changes, the company has vacated its largest office space, a 5.58 lakh square feet property in Kalyani Tech Park.

Additionally, it has relinquished a portion of another office space in the city, according to insider sources. With a total of three office spaces in Bengaluru, Byju's is now encouraging its employees to work from its other premises or from home starting July 23.

Six employees have confirmed this development to Moneycontrol. Moreover, the company has also given up two out of the nine floors it previously occupied in Prestige Tech Park, as mentioned by employees.

A spokesperson from Byju's clarified that the company currently holds more than 3 million square feet of rented spaces nationwide to cater to its various needs.

They emphasised that the decision to expand or reduce office space is a routine part of adjusting to changes in working policies and business priorities, ultimately aiming to enhance operational efficiencies.

Last year, Byju's leased two buildings, Magnolia and Ebony, in Kalyani Tech Park, Brookfield. However, last month, the company vacated the Magnolia building and relocated its employees to Ebony.

At present, all employees have been instructed to work from either Prestige Tech Park or the main office on Baneghatta Main Road, according to statements made to the media by the employees.