Kansai Nerolac Paints acquires office space in Mumbai for Rs 85 cr
07 Feb 2022
2 Min Read
CW Team
According to sources, Kansai Nerolac Paints has acquired office space in Mumbai worth Rs 85 crore for the development of the Indian headquarters of the company in Lower Parel.
The company has bought an entire floor of office space on the 28th floor of the commercial tower spread across 35,000 sq ft in Marathon Group's commercial project, Marathon Futurex on Delisle Road.
Sources said that the project's third phase of development had received an occupation certificate from the civic body.
Marathon Futurex has housed the headquarters of Essel Group for its media and entertainment businesses, Zee Entertainment Enterprises, an Indian subsidiary of L'Oreal.
This project is the address of Tata Group's Tata Strategic Management, HDFC, Consulate General of Israel, Thomas Cook and Diageo.
Marathon Realty is developing the 1.4 million sq ft office building in three phases, from which two development phases are spread across an 8 lakh sq ft area. The third developmental phase will take the 38th floor and make it the tallest commercial project in India.
It is one of the largest front-office transactions. Essel Group has acquired 2.2 lakh sq ft of commercial space across seven floors worth Rs 400 crore.
Earlier, IDBI Federal Life Insurance Company Limited bought commercial space worth more than Rs 111 crore at Marathon Futurex. Hindustan Colas had also bought commercial space in the same complex worth Rs 120 crore.
The commercial sector in Mumbai is witnessing a robust activity after the Covid-19 pandemic. As per JLL India, Mumbai's office market in India's financial capital recorded leasing of over 3.7 million sq ft in 2021, from which 3 million sq ft was transacted during the second half of 2021, witnessing a strong recovery of 8 lakh sq ft absorption in the first half.
Also read: Kansai Nerolac Paints Q1 results: Profit at Rs 111.38 cr
According to sources, Kansai Nerolac Paints has acquired office space in Mumbai worth Rs 85 crore for the development of the Indian headquarters of the company in Lower Parel.
The company has bought an entire floor of office space on the 28th floor of the commercial tower spread across 35,000 sq ft in Marathon Group's commercial project, Marathon Futurex on Delisle Road.
Sources said that the project's third phase of development had received an occupation certificate from the civic body.
Marathon Futurex has housed the headquarters of Essel Group for its media and entertainment businesses, Zee Entertainment Enterprises, an Indian subsidiary of L'Oreal.
This project is the address of Tata Group's Tata Strategic Management, HDFC, Consulate General of Israel, Thomas Cook and Diageo.
Marathon Realty is developing the 1.4 million sq ft office building in three phases, from which two development phases are spread across an 8 lakh sq ft area. The third developmental phase will take the 38th floor and make it the tallest commercial project in India.
It is one of the largest front-office transactions. Essel Group has acquired 2.2 lakh sq ft of commercial space across seven floors worth Rs 400 crore.
Earlier, IDBI Federal Life Insurance Company Limited bought commercial space worth more than Rs 111 crore at Marathon Futurex. Hindustan Colas had also bought commercial space in the same complex worth Rs 120 crore.
The commercial sector in Mumbai is witnessing a robust activity after the Covid-19 pandemic. As per JLL India, Mumbai's office market in India's financial capital recorded leasing of over 3.7 million sq ft in 2021, from which 3 million sq ft was transacted during the second half of 2021, witnessing a strong recovery of 8 lakh sq ft absorption in the first half.
Image Source
Also read: Kansai Nerolac Paints Q1 results: Profit at Rs 111.38 cr
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
