New Delhi : NBCC (India) Limited has handed over the Allotment Letter and Agreement to Sale for two towers at Bharat Business Park (BBP) in Sarojini Nagar, New Delhi, to SBER India as part of a transaction involving more than ₹2,000 crore worth of commercial office space.
The two towers together have a super built-up area of 5.17 lakh square feet. According to NBCC, the sale value of the transaction is more than ₹2,000 crore.
The document handover marks a key stage in the transaction between the state-owned construction and project management company and SBER India, the Indian operations of Russia’s Sberbank.
NBCC Hands Over Sale Documents to SBER India
The Allotment Letter and Agreement to Sale were formally handed over by Dr. K.P. Mahadevaswamy, Chairman and Managing Director of NBCC, to Igor Shishkin, Deputy Managing Director of SBER India, at NBCC’s Corporate Headquarters in New Delhi.
Senior officials from both organisations were present during the handover.
Representing NBCC were Dr. Suman Kumar, Director (Commercial), Anjeev Kumar Jain, Director (Finance), and Dr. Vijay Choudhary, Senior Executive Director (Finance), among other officials.
The completion of this documentation represents an important step in the commercial transaction involving the two office towers at Bharat Business Park.
5.17 Lakh Sq Ft of Office Space
The transaction covers two towers within the Bharat Business Park development.
Together, the towers provide 5.17 lakh sq. ft. of super built-up office space, making the transaction substantial in terms of both area and value.
Deal at a Glance
| Particular | Details |
|---|---|
| Project | Bharat Business Park |
| Location | Sarojini Nagar, New Delhi |
| Buyer | SBER India |
| Seller/Developer | NBCC (India) Limited |
| Towers | 2 |
| Total Area | 5.17 lakh sq. ft. |
| Area Type | Super built-up area |
| Transaction Value | More than ₹2,000 crore |
| Documents Handed Over | Allotment Letter and Agreement to Sale |
| Date | September 23, 2026 |
What is Bharat Business Park?
Bharat Business Park is a commercial development located in Sarojini Nagar, New Delhi, one of the prominent redevelopment areas in the national capital.
The project forms part of the broader redevelopment of government-owned land and commercial infrastructure in the area. NBCC has been involved in several large-scale redevelopment and construction projects across the country, including government and commercial developments.
The acquisition of two towers by SBER India adds a major corporate occupier and investor to the project.
Strengthening India-Russia Business Ties
NBCC said the transaction also contributes to strengthening business and commercial cooperation between India and Russia.
SBER India is the Indian arm of Russia’s Sberbank, which has expanded its presence in India through technology, financial services and corporate operations.
For NBCC, the transaction represents a major commercial property deal involving a foreign financial institution operating in India.
The company described the purchase as one of the largest acquisitions of Indian office space by a foreign bank.
Significance for NBCC
The transaction highlights NBCC’s role not only as a construction and project management company but also in the development and monetisation of large commercial properties.
A sale exceeding ₹2,000 crore for two towers demonstrates the commercial value attached to well-located office developments in New Delhi.
The Sarojini Nagar location provides connectivity to important parts of the national capital and is part of a major government-led redevelopment area. The transaction with SBER India adds to the commercial profile of Bharat Business Park.
Why the Deal Matters for SBER India
For SBER India, acquiring two towers at Bharat Business Park provides a substantial office footprint in New Delhi.
The combined 5.17 lakh sq. ft. super built-up area gives the organisation significant commercial space within a major business development in the capital.
The transaction also represents a long-term investment in India’s commercial real estate market by a major international banking group.
A Major Commercial Property Transaction
The ₹2,000 crore-plus agreement is significant because of the size of the property involved, the value of the transaction and the profile of the buyer.
The handover of the Allotment Letter and Agreement to Sale formally records an important stage of the deal and strengthens the commercial relationship between NBCC and SBER India.
With two towers and 5.17 lakh sq. ft. of super built-up area changing hands, the transaction is among the major office-space deals associated with Bharat Business Park.
