NBCC (India) Limited, a Navratna CPSE under the Ministry of Housing and Urban Affairs, has handed over the Allotment Letter and Agreement to Sale for two towers at its Bharat Business Park (BBP), Sarojini Nagar, to SBER India. The documents were handed over on September 23, marking one of the largest purchases of Indian office space by a foreign bank.
NBCC CMD Dr. K.P. Mahadevaswamy handed over the documents to Igor Shishkin, Deputy Managing Director, SBER India, at NBCC’s Corporate Headquarters in New Delhi. Dr. Suman Kumar, Director (Commercial), Anjeev Kumar Jain, Director (Finance), Dr. Vijay Choudhary, Senior Executive Director (Finance), NBCC, and senior officials from both organisations were also present.
NBCC BBP Towers Sold to SBER India for Over ₹2,000 Crore
The two towers span approximately 5.17 lakh sq ft of super built-up area and have a sale value of more than ₹2,000 crore. SBER India secured the towers through a competitive e-auction in April 2026, making it the largest single buyer at the Bharat Business Park project.
Sberbank, the largest bank in Russia and Central and Eastern Europe, established its Indian branch in 2010 to build a strategic presence and support India-Russia trade.
Bharat Business Park to Host Russian Business Centre
SBER India has announced plans to establish a Russian Business Centre in New Delhi. The centre will support Russian companies operating in India by providing banking, legal, tax and audit services.
SBER India’s decision to acquire space at Bharat Business Park also adds an international financial institution to the project, which is positioned as a new-generation commercial district in Delhi.
NBCC Sells All Eight Bharat Business Park Towers
NBCC has sold all eight towers at Bharat Business Park, covering approximately 23.44 lakh sq ft, for around ₹10,000 crore. The project is expected to be completed in 2028.
Other buyers include public sector organisations such as IRCTC, Government e-Marketplace (GeM), BPCL, RVNL and National Land Monetization Corporation Ltd., among others.
Speaking on the occasion, Dr. K.P. Mahadevaswamy, CMD, NBCC, said SBER India’s decision to make Bharat Business Park its home in Delhi reflects confidence in NBCC’s execution capabilities and Delhi as a destination for global business.
Prime Minister Shri Narendra Modi laid the foundation stone for the eight towers of Bharat Business Park on International Women’s Day, March 8, 2026. The early sale of BBP, including SBER India’s purchase, is expected to support funding for the completion of the seven GPRA redevelopment projects.
