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

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..