Kolkata-based KCT Group acquires HSBC office in Mumbai
Real Estate

Kolkata-based KCT Group acquires HSBC office in Mumbai

Kolkata’s Karam Chand Thapar (KCT) Group has purchased a 108-year-old prime commercial building at Horniman Circle in Fort, South Mumbai from banking firm HSBC for over Rs 83 crore.

The KCT Group, which has interests in coal, real estate, aquaculture, and manufacturing, has acquired its second prime South Mumbai property.

The HSBC Asset Management offices and the operations of the bank are currently housed in the three-story neoclassical art deco building near the HSBC headquarters.

HSBC had previously put the high-profile property on the market.

The land for the property was purchased in 1888, and the Grade II heritage property was finished in 1912. Since the 1970s, HSBC has been the sole owner and occupier of the property. The plot on which the building stands is leased to the bank for 999 years.

Some HSBC departments and operations have already been relocated to their headquarters on Fort MG Road, while others have been relocated to the bank's offices in the Mumbai suburbs.

The structure has a built-up area of 32,000 sq ft, including a basement, and sits on a quarter-acre plot.

Over the last few years, HSBC has sold a few other real estate assets.

HSBC sold its 1.4-acre land parcel next to Doordarshan Tower in Mumbai's Worli neighbourhood to K Raheja Corp for Rs 230 crore in 2015.

The bank sold Bishopsgate, a residential building in upscale Breach Candy, to Peninsula Land, an Ashok Piramal Group company, along with joint owner Standard Chartered, for Rs 272 crore in 2011.

Image Source


Also read: Dmart buys retail space worth Rs 100 cr from Sunteck in Goregaon

Kolkata’s Karam Chand Thapar (KCT) Group has purchased a 108-year-old prime commercial building at Horniman Circle in Fort, South Mumbai from banking firm HSBC for over Rs 83 crore. The KCT Group, which has interests in coal, real estate, aquaculture, and manufacturing, has acquired its second prime South Mumbai property. The HSBC Asset Management offices and the operations of the bank are currently housed in the three-story neoclassical art deco building near the HSBC headquarters. HSBC had previously put the high-profile property on the market. The land for the property was purchased in 1888, and the Grade II heritage property was finished in 1912. Since the 1970s, HSBC has been the sole owner and occupier of the property. The plot on which the building stands is leased to the bank for 999 years. Some HSBC departments and operations have already been relocated to their headquarters on Fort MG Road, while others have been relocated to the bank's offices in the Mumbai suburbs. The structure has a built-up area of 32,000 sq ft, including a basement, and sits on a quarter-acre plot. Over the last few years, HSBC has sold a few other real estate assets. HSBC sold its 1.4-acre land parcel next to Doordarshan Tower in Mumbai's Worli neighbourhood to K Raheja Corp for Rs 230 crore in 2015. The bank sold Bishopsgate, a residential building in upscale Breach Candy, to Peninsula Land, an Ashok Piramal Group company, along with joint owner Standard Chartered, for Rs 272 crore in 2011. Image Source Also read: Dmart buys retail space worth Rs 100 cr from Sunteck in Goregaon

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code