NPCI Buys Land in BKC for Rs 8.29 Billion HQ

10 Jul 2025 CW Team

The National Payments Corporation of India (NPCI) has acquired a 1.5-acre land parcel from the Mumbai Metropolitan Region Development Authority (MMRDA) in Mumbai’s Bandra-Kurla Complex (BKC) for Rs 8.29 billion to establish its new headquarters, according to property registration documents accessed by Propstack.

NPCI has signed an 80-year lease agreement with MMRDA for amalgamated plots C-44 and C-48 in G Block of BKC, India’s most premium commercial district. The lease permits construction of a maximum built-up area of 24,076.4 square metres (around 259,000 square feet). However, NPCI plans to build a 16-storey office tower with a total built-up area of approximately 500,000 square feet, which may require the purchase of additional Floor Space Index (FSI).

The office tower will also include four to five levels of basement parking. According to Propstack, NPCI submitted a formal request to MMRDA in August 2024 seeking land allotment within BKC.

As part of its global expansion strategy, NPCI also plans to establish a research and development centre within the same complex. Media reports earlier this year quoted NPCI CEO Dilip Asbe stating that the new R&D hub will accommodate around 5,000 personnel.

According to the Free Press Journal, the MMRDA granted administrative approval for the NPCI headquarters project in September 2024. The decision aligns with MMRDA’s broader vision of positioning the Mumbai Metropolitan Region as a global economic centre. The Authority has also approved the formation of a Project Implementation Unit and a Business Development Cell to oversee the execution of the regional economic master plan.

BKC is Mumbai’s central business district and a prominent hub for the banking, financial services, and insurance (BFSI) sector, hosting several Fortune 500 companies.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..