Mumbai: HSBC likely to sell Worli plot for Rs 500cr | business | Hindustan Times
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Mumbai: HSBC likely to sell Worli plot for Rs 500cr

business Updated: Jan 09, 2015 02:37 IST
HT Correspondent
HT Correspondent
Hindustan Times

Global banking giant HSBC is set to sell its 1.4-acre plot in Mumbai’s plush Worli area in a move expected to fetch it over Rs 500 crore.

Company sources said the sale is part of its overall strategy that made “financial sense”, and that the plot was lying idle. When contacted, the HSBC spokesperson declined to comment.

Sources said talks are already on and global realty consultant CB Richard Ellis (CBRE) has been given the mandate to carry out the exercise.

“The bank has been keen to sell off this property for a long time,” an industry source told HT. “Worli is a plush area where property valuations are very high… this would fetch over Rs 500 crore for the bank.”

The Worli property, where HSBC housed its call centre and BPO arm that had 1,200 employees, was operational till 2007 before shifting to larger offices.

Last October, the bank had bought a luxury duplex apartment in the Mahalaxmi area in south Mumbai, for around Rs 60 crore.

This was one of the most expensive real estate purchases in India in 2014. That transaction was also carried out by CBRE.

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