India’s largest housing finance company, Housing Development and Finance Corp (HDFC) plans to buy Hindustan Unilever’s former headquarters, Lever House, located at Backbay Reclamation in the southern tip of the megapolis.
“Today, the HUL building is on lease with us and we have the right to buy it and we will buy it,” chairman Deepak Parekh told shareholders over the weekend.
No financial details were available.
HDFC will also shift its general insurance arm, HDFC Ergo General Insurance, and HDFC Mutual Fund to the building.
HUL was housed at the Lever House for 46 years before it moved to a new campus in Andheri (East) in north Mumbai in 2010.