Russian bank, PSUs help NBCC generate Rs 5,779 cr from office tower sale in south Delhi

New Delhi: Sberbank, largest bank in Russia and Central and Eastern Europe, has purchased two office towers in South Delhi from NBCC for around Rs 2,000 crore, a senior executive said.

NBCC has overall sold 14 lakh sq ft spread across 5 towers at Bharat Business Park (BBP), Sarojini Nagar, New Delhi, through e-auction for Rs 5779 crore.

Other buyers include some PSUs, a construction equipment company, garment exporter and one in food business.


The e-auction had offered super built-up area of approximately 23.44 lakh sq ft. across 8 towers. This is the highest ever sale value recorded in a single e-auction by NBCC.

“The Russian bank has taken two towers with area of about 5,00,000 sq ft. The minimum bid price was Rs 39,100 per sq ft,” said a senior executive.

Sberbank Branch in India has been operating in New Delhi for 14 years and benefits from the managerial, operational, and financial support of its parent bank.

“The strong participation and competitive bidding led to sell-out of inventory across multiple towers and floors, reaffirming the attractiveness of the project as a premium commercial destination in South Delhi,” NBCC said in a statement.

The average sale rate in the e-auction was recorded as Rs. 41,207 per sq.ft., an increase of Rs.2,107 per sq.ft. (5 % over the reserve price).

Bharat Business Park (BBP) is a prime commercial asset in South Delhi. The upcoming second phase of the e-auction will offer the remaining three towers.

The project is being developed to meet contemporary standards of workplace functionality, safety, and sustainability.

Bharat Business Park (BBP) will have a three-level basement parking facility with capacity for over 2,800 vehicles.

The funds generated through this e-auction will be utilised towards financing various ongoing redevelopment works, supporting project completion timelines and meeting financial obligations under the Ministry of Housing and Urban Affairs (MoHUA).

NBCC (India) Ltd is targeting revenue of Rs 18,000 crore this financial year, with a focus on multiple real estate projects in south Delhi and redevelopment projects across the country.

This would mark an increase from the Rs 14,000 crore revenue the state-run property developer is expected to have recorded in FY26.