NBCC hands over allotment letter and agreement to sale to Russia's SBER India

New Delhi: NBCC (India) Limited handed over the Allotment Letter and Agreement to Sale document for two towers at its Bharat Business Park (BBP), Sarojini Nagar, to SBER India, in one of the largest purchase of Indian office space by a foreign bank. Dr. K.P. Mahadevaswamy, CMD, NBCC, handed over the documents to Igor Shishkin, Deputy Managing Director, SBER India, at Corporate Headquarter, New Delhi in the presence of Dr. Suman Kumar, Director (Commercial), Anjeev Kumar Jain, Director (Finance), Dr. Vijay Choudhary, Senior Executive Director (Finance), NBCC and other senior officers from both organisations.

Sberbank, Russia's largest bank, established its Indian branch in 2010 to strengthen India-Russia trade and has now emerged as the largest buyer at NBCC's Bharat Business Park in New Delhi. It acquired two towers covering 5.17 lakh sq ft for over ₹2,000 crore through an e-auction in April 2026. SBER India plans to establish a Russian Business Centre offering banking and business support services. NBCC has sold all eight towers, spanning 23.44 lakh sq ft, for around ₹10,000 crore, with project completion expected in 2028.

Other buyers include leading public sector organisations such as IRCTC, Government e-Marketplace (GeM), BPCL, RVNL and National Land Monetization Corporation Ltd. and 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 is a strong endorsement of NBCC's execution capability and of Delhi as a destination for global business.”

Prime Minister Narendra Modi laid the foundation stone for the eight towers of Bharat Business Park on International Women's Day, 8 March 2026. The early sale of BBP, including SBER India's purchase, shall play an important role in funding the completion of 7 GPRA redevelopment projects.