New Delhi: NBCC (India) Limited has handed over the Allotment Letter and Agreement to Sale for two towers at Bharat Business Park (BBP), Sarojini Nagar, New Delhi, to SBER India. The transaction covers a combined 5.17 lakh sq. ft. of super built-up area and has a sale value of more than ₹2,000 crore, according to NBCC.
The document handover marks an important milestone in the commercial transaction and further strengthens business cooperation between Indian and Russian entities.
NBCC-SBER India Deal: Key Details
The transaction involves two towers within Bharat Business Park, one of NBCC’s major commercial developments in the national capital.
Key details include:
- Project: Bharat Business Park, Sarojini Nagar
- Buyer: SBER India
- Towers: 2
- Total area: 5.17 lakh sq. ft. of super built-up area
- Sale value: More than ₹2,000 crore
- Location: Sarojini Nagar, New Delhi
- Seller/Developer: NBCC (India) Limited
The scale of the transaction makes it a significant institutional office-space deal for NBCC.
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Documents Handed Over to SBER India
Dr. K.P. Mahadevaswamy, CMD, NBCC, handed over the Allotment Letter and Agreement to Sale to Igor Shishkin, Deputy Managing Director, SBER India, at NBCC’s Corporate Headquarters in New Delhi.
Senior officials from both organisations were also present during the document handover.
The NBCC officials attending the event included:
- Dr. Suman Kumar, Director (Commercial), NBCC
- Anjeev Kumar Jain, Director (Finance), NBCC
- Dr. Vijay Choudhary, Senior Executive Director (Finance), NBCC
The exchange of documents marks a key stage in the transaction between NBCC and SBER India.
₹2,000 Crore-Plus Transaction Covers 5.17 Lakh Sq. Ft.
The transaction involves more than 5.17 lakh sq. ft. of super built-up office space, making it a major commercial real estate transaction associated with Bharat Business Park.
For NBCC, the deal represents the monetisation of office assets within its Bharat Business Park development. For SBER India, the acquisition provides a substantial dedicated commercial footprint in New Delhi.
The scale of the transaction also reflects the significance of institutional-grade office space in major commercial locations in the national capital.
SBER India Expands Commercial Footprint in New Delhi
Through the transaction, SBER India has acquired two towers within Bharat Business Park.
The sizeable office-space footprint can support the bank’s business and operational requirements in India while consolidating its presence within a major commercial development in New Delhi.
The transaction also carries significance in the context of increasing commercial and business engagement between Indian and Russian entities.
NBCC Highlights India-Russia Business Cooperation
NBCC said the transaction further strengthens India-Russia business cooperation.
The company also described the deal as one of the largest purchases of Indian office space by a foreign bank.
The transaction connects NBCC, a major Indian public sector construction and development company, with SBER India, the Indian operations of the Russian banking group.
Why the Bharat Business Park Deal Matters
The transaction demonstrates the commercial value that can be generated through large-scale office developments and institutional property sales.
For NBCC, the deal represents a major commercial transaction from its Delhi portfolio. For SBER India, it provides access to a large office asset within Bharat Business Park.
The transaction also adds to the commercial significance of Sarojini Nagar, where Bharat Business Park is being developed as a major business and office destination.
Key Takeaways
- NBCC handed over the Allotment Letter and Agreement to Sale to SBER India.
- The transaction covers two towers at Bharat Business Park.
- The combined super built-up area stands at 5.17 lakh sq. ft.
- The sale value is more than ₹2,000 crore.
- The deal strengthens India-Russia business cooperation, according to NBCC.
- SBER India gains a substantial office-space footprint in New Delhi.
What Happens Next
The handover of the Allotment Letter and Agreement to Sale marks an important milestone in the NBCC-SBER India transaction.
The two organisations will proceed with the subsequent stages associated with the office-space acquisition and development.
With 5.17 lakh sq. ft. of office space involved and a transaction value exceeding ₹2,000 crore, the deal represents one of the major commercial property transactions associated with NBCC’s Bharat Business Park development.
About NBCC
NBCC (India) Limited is a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, Government of India. The company operates across areas including project management consultancy, engineering, procurement and construction, redevelopment and real estate development. NBCC undertakes major infrastructure and development projects for government and other institutional clients in India and abroad.
