Nippon Life Secures INR 486 Crore Deal for Premium Office Space in Mumbai's Lodha Tower

Nippon Life India Asset Management has finalized the purchase of two premium floors in One Lodha Place, a commercial tower developed by Lodha (Macrotech Developers), located in Mumbai’s bustling business district of Lower Parel. The deal, valued at ₹486 crore, marks a significant acquisition in Mumbai’s high-end real estate market.

Agreement Details and Payment Schedule

Sources revealed that the definitive agreement for the transaction was recently registered. Nippon Life has already paid a portion of the total amount along with stamp duty, while the remaining ₹400 crore is expected to be cleared by December 6. This office space spans an impressive 52,162 square feet and is set to serve as the company’s new headquarters, moving from Peninsula Business Park in the same vicinity.

Exclusive Rights to Premium Floors

The acquisition grants Nippon Life exclusive rights to the 29th and 30th floors of the 36-story commercial tower. While Nippon Life India’s regulatory filing confirmed the absence of any shareholding or related-party ties with the selling entity, it refrained from officially announcing plans for relocating its headquarters to the new property.

Pioneering Presence in Indian Asset Management

Nippon Life India, renowned for its diverse portfolio of investment products, became the first asset management company to list on Indian stock exchanges in 2017. Its offerings include mutual funds, exchange-traded funds (ETFs), portfolio management services, pension funds, and alternative investment funds, alongside offshore advisory services.

Disclaimer: The information provided is based on sources with knowledge of the transaction and publicly available filings. Details of the deal may be subject to further updates or changes. This is not intended as financial advice or an endorsement of the entities involved.