Kolkata-based KCT Group acquires HSBC office in Mumbai

13 Jul 2021 CW Team

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

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..