Nippon Life India acquires office space for Rs 4.86 Bn in Mumbai

22 Nov 2024 CW Team

Nippon Life India Asset Management has executed a definitive agreement with realty developer Lodha, listed as Macrotech Developers, to acquire an office space spread across two floors in a commercial tower One Lodha Place in Mumbai’s business district Lower Parel for Rs 4.86 billion. The asset management company is planning to shift its headquarters in this office spread over 52,162 sq ft from Peninsula Business Park in the vicinity.“The deal was registered. The buyer has paid a certain amount of the consideration and the stamp duty, and is expected to pay Rs 4 billion by December 6,” said a person with direct knowledge of the development. In a regulatory filing, Nippon Life India Asset Management said there are no shareholding ties with the selling entity, and the transaction is not categorised as a related party transaction. The filing, however, did not mention the plan to shift the headquarters to this new office. Transaction advisor JLL India declined to comment for the story. As part of the deal, the buyer will get exclusive signages rights for the space on the 29th and 30th floors of the commercial tower that has a total 36 floors. Nippon Life India Asset Management specializes in managing a variety of investment products, including mutual funds like exchange-traded funds (ETFs); managed accounts such as portfolio management services, alternative investment funds, and pension funds; as well as offshore funds and advisory mandates. It is the first asset management company listed on Indian bourses in 2017.

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

EUROBOND Expands NABL Accreditation to 51 Testing Parameters

EUROBOND, the flagship brand of Euro Panel Products, has expanded the National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation of its in-house laboratory from 16 to 51 mechanical and chemical testing parameters, making it the only Indian aluminium composite panel (ACP) manufacturer with accreditation covering such an extensive testing scope.The expanded accreditation enables the company to independently test coils, coatings, cores, aluminium composite panels (ACP) and metal composite panels (MCP) in accordance with international standards, including IS, ASTM, ..