Russia's SBER India buys two towers in Delhi for over Rs 2,000 cr

NBCC has handed over documents for two commercial towers at Bharat Business Park, Sarojini Nagar, to SBER India. The Russian bank purchased the space, covering 5.17 lakh sq ft, for over Rs 2,000 crore through a competitive e-auction.

NBCC (India) Limited has handed over the Allotment Letter and Agreement to Sale documents for two towers at its Bharat Business Park (BBP) in Sarojini Nagar to SBER India after the Russian bank purchased the commercial space for more than Rs 2,000 crore through a competitive e-auction in April 2026.

SBER India's Landmark Purchase

According to an official statement, NBCC CMD Dr KP Mahadevaswamy handed over the documents to SBER India Deputy Managing Director Igor Shishkin at NBCC's corporate headquarters in New Delhi. Senior officials from both organisations were also present on the occasion.

The two towers cover approximately 5.17 lakh sq ft of super built-up area and have a sale value of more than Rs 2,000 crore, NBCC said in the statement.

SBER India became the largest single buyer at the Bharat Business Park project after securing the two towers through the competitive e-auction in April 2026, according to the company.

SBER Bank, a leading global financial institution and the largest bank in Russia and Central and Eastern Europe, established its Indian branch in 2010 to create a strategic presence and support India-Russia trade, the statement said.

Russian Business Centre Planned

SBER India has announced plans to set up a Russian Business Centre in New Delhi, which will support Russian companies operating in India with banking, legal, tax and audit services, NBCC said.

A Boost for Delhi's Commercial Real Estate

The company's choice of Bharat Business Park reflects the growing appeal of Delhi's new-generation commercial districts to international institutions, according to the statement.

Speaking on the occasion, NBCC CMD Dr K.P. Mahadevaswamy said, “SBER India's decision to make Bharat Business Park its home in Delhi is a strong endorsement of NBCC's execution capability and of Delhi as a destination for global business.”

Bharat Business Park Project Update

The handover comes as NBCC has sold all eight towers at Bharat Business Park, according to the official statement. The eight towers span approximately 23.44 lakh sq ft and have been sold for about Rs 10,000 crore, the company said.

Other buyers include public sector organisations such as IRCTC, Government e-Marketplace (GeM), BPCL, RVNL and National Land Monetisation Corporation Ltd. and others.

The Bharat Business Park project is expected to be completed in 2028, NBCC said.

Prime Minister Narendra Modi laid the foundation stone for the eight towers of Bharat Business Park on March 8, 2026, on International Women's Day.

According to NBCC, the early sale of Bharat Business Park, including SBER India's purchase, will play an important role in funding the completion of the 7 GPRA redevelopment project. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)