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

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..