Suzlon Sells Pune HQ at One Earth, Hadapsar for INR 440 Crore, Leases Back for 5 Years to Unlock Growth Capital

Pune:

In a strategic move to become asset-light and fuel growth, Suzlon Energy, a prominent renewable energy solutions provider, has reportedly sold its headquarters, One Earth in Hadapsar, Pune, for ₹440 crore as part of its strategy to monetize non-core assets. The property was sold to OE Business Park (OEBPPL), a special purpose vehicle backed by funds managed by 360 ONE Alternates Asset Management.

Following the sale, Suzlon is said to have leased back its own headquarters for up to five years, with the option to sub-lease or license portions of the property. This is considered one of the first headquarters sale-and-leaseback transactions in India, and it forms a key part of Suzlon’s overall strategy to become asset-light and redirect funds towards growth.

Focus on Core Business and Growth Execution

According to sources, Suzlon has maintained that this move will not disrupt its operations. By opting for this sale-and-leaseback model, the company aims to unlock capital tied to its real estate, which will now be used to support its growing order book of nearly 4 GW. Additionally, the lease terms reportedly give Suzlon the flexibility to optimize costs through sub-leasing.

This transaction is seen as part of Suzlon’s broader objective to reinvest in its core business and drive long-term growth. Reports suggest that Suzlon has been debt-free and is now focusing on strategic financial decisions that align with its vision to create sustainable value for stakeholders.

Option to Reclaim Property in Future

As per the agreement, Suzlon retains the right to repurchase the shares and securities of OEBPPL at a later date. This strategic sale-and-leaseback arrangement allows Suzlon to benefit from capital unlocked from its real estate without impacting its daily operations, further enhancing its financial flexibility.