NBCC has handed over two towers at Bharat Business Park in Sarojini Nagar to SBER India in a transaction valued at over ₹2,000 crore. Covering 5.17 lakh sq. ft. of office space, the deal gives SBER India a substantial commercial footprint while strengthening India-Russia business cooperation.
NBCC (India) Limited has handed over the Allotment Letter and Agreement to Sale for two towers at Bharat Business Park in Sarojini Nagar, New Delhi, to SBER India. The transaction covers a combined 5.17 lakh sq. ft. of super built-up area and carries a sale value of more than ₹2,000 crore.
The transaction represents a significant institutional office-space deal for NBCC and adds to the growing commercial importance of Bharat Business Park. The project is among NBCC’s major commercial developments in the national capital and is being positioned as a large business destination.
For SBER India, the acquisition provides a sizeable dedicated office footprint in one of New Delhi’s established commercial locations. The two towers can support the bank’s business and operational requirements while consolidating its presence in the Indian market.
Documents Mark a Key Transaction Milestone
The formal document handover took place at NBCC’s corporate headquarters in New Delhi. Dr K.P. Mahadevaswamy, CMD, NBCC, handed over the documents to Igor Shishkin, Deputy Managing Director, SBER India.
Senior officials from both organisations attended the event, including Dr Suman Kumar, Director (Commercial), NBCC; Anjeev Kumar Jain, Director (Finance), NBCC; and Dr. Vijay Choudhary, Senior Executive Director (Finance), NBCC.
The handover marks an important stage in the commercial transaction, moving the deal forward following the agreement between the two organisations.
₹2,000 Crore Deal Highlights Office Asset Value
The scale of the transaction is notable in both area and value. With 5.17 lakh sq. ft. involved, the deal gives SBER India access to a substantial office asset while allowing NBCC to monetise commercial space within its Bharat Business Park development.
NBCC described the transaction as one of the largest purchases of Indian office space by a foreign bank. The deal also underlines the role of large office developments in attracting institutional occupiers and international businesses to established commercial locations.
The transaction comes at a time when large occupiers continue to seek sizeable, professionally developed office space to accommodate business operations at scale.
Sarojini Nagar Gains Commercial Significance
The deal also adds weight to Sarojini Nagar’s evolving commercial real estate profile. Bharat Business Park is being developed as a major office and business destination, bringing substantial commercial space into the area.
NBCC said the transaction “further strengthens business cooperation between Indian and Russian entities.” The deal connects a major Indian public sector construction and development company with SBER India, the Indian operations of the Russian banking group.
With the document handover now completed, the transaction moves into its subsequent stages. For the office market, the deal stands out for its combination of transaction value, large floor area and international institutional participation in New Delhi’s commercial real estate sector.
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