News Indian Link

For Rs. 198 billion, IDFC First Bank sells office space in Mumbai’s BKC

<p>For Rs 198 crore, IDFC First Bank has sold NSDL the office space it previously occupied in Mumbai’s Bandra Kurla Complex (BKC).<img decoding=”async” class=”alignnone wp-image-226836″ src=”” alt=” relaxation of the curfew is canceled in moreh town manipur download 2023 10 10t182″ width=”1260″ height=”708″ srcset=” 299w,×84.jpg 150w” sizes=”(max-width: 1260px) 100vw, 1260px” title=”For Rs. 198 billion, IDFC First Bank sells office space in Mumbai's BKC 6″></p>
<p>Late on Monday, IDFC First Bank said in a regulatory filing that it has “entered into agreement(s) with National Securities Depository Ltd (NSDL) for the sale of its office premises located at Naman Chambers, BKC, Mumbai.”</p>
<p>The bank’s activities close to its corporate headquarters at IDFC FIRST Bank Tower (The Square) in BKC are being consolidated as a result of this selling agreement.</p>
<p>“Rs 198 crore is the approximate consideration for the aforementioned office premises,” it said.</p>
<p>The office space’s ownership and title would be given to NSDL.</p>
<p>Although IDFC First Bank did not disclose the size of the office space it was selling in its filing, real estate agents estimated it was close to 70,000 square feet.</p>
<p>The transaction adviser for the sale was real estate consultancy Colliers India.</p>
<p>In the first quarter of 2023–2024, the bank reported an after-tax profit of Rs 765 crore.</p>

Related posts

In three years, Reliance Industries plans to spend an extra Rs 20,000 cr in West Bengal. Ambani Mukesh

US Federal Reserve Increases Regulation of Crypto and Stablecoin Activities

TRAI is considering immediately establishing a statutory authority for the development of responsible AI and the regulation of use cases