Key facts
- Green SM, backed by Vingroup, is expanding its Indian operations.
- The company has partnered with Urban Vault for flexible workspaces.
- Green SM has leased 500 seats in Gurugram and plans to lease 1,000 more in Noida and other cities.
- Urban Vault has delivered Green SM's first Indian office, a 16,000 sq. ft. managed workspace in Gurugram.
- Green SM officially commenced operations in India on June 5, 2026, in Delhi-NCR.
- Urban Vault manages over 2.80 million sq. ft. and 70,000 seats across 80 locations nationwide.
Green SM, the electric ride-hailing service backed by Vietnam's Vingroup, is expanding its real estate footprint in India through a partnership with flexible workspace provider Urban Vault. The company has leased 500 seats at Urban Vault's center in Gurugram and plans to secure an additional 1,000 seats in Noida and other major Indian cities as it grows its operations.
Urban Vault has already established Green SM's initial Indian office, a 16,000 sq. ft. managed workspace located at Paras Twin Towers on Golf Course Road, Sector 54, Gurugram. This facility will serve as a central operational hub for Green SM's app-based, all-electric taxi service, which officially launched in India on June 5, 2026, beginning with the Delhi-NCR region.
Green SM aims to expand gradually to other key cities across India, competing with established ride-hailing services while promoting sustainable urban mobility. Urban Vault will provide managed office solutions across India to support Green SM's rapid expansion, offering speed, operational efficiency, and scalability.
Urban Vault, which manages over 2.80 million sq. ft. and 70,000 seats across 80 locations, reported a turnover exceeding Rs 212 crore in FY2025-26 and maintains an annual revenue run rate of approximately Rs 300 crore, with a target of Rs 350 crore for FY27.