Piramal Enterprises subsidiary to acquire Rs 875 crore office space in Mumbai

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26 Aug, 2025 12:21

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A subsidiary of Piramal Enterprises acquired an office space in Lower Parel, Mumbai for Rs 875 crore, the company informed the exchanges on December 26.

Piramal Consumer Products Private Limited, the wholly-owned subsidiary of Piramal Enterprises agreed to agree with AASAN Corporate Solutions to acquire Piramal Towers, an office space in Mumbai. AASAN Corporate Solutions is a promoter group company for Piramal Enterprises.

"As the business of the company continues to expand, this transaction will allow the Piramal Enterprises and its subsidiaries to fulfil their future office space needs," said the company in an exchange filing.  It further said that although the company currently utilizes a certain portion of these office
premises, it expects to capitalize on space as and when it becomes available to meet the rising operating demands.

After this transaction, the subsidiary will change its name to Piramal Tower Private Limited which is subject to availability.

The subsidiary's turnover for FY21, FY22 and FY23 was Rs71.27 lakhs, Rs 151.35 lakhs, and Rs 70.42 lakhs, respectively.

Piramal Enterprises on reported a net profit of Rs 48 crore for the July-to-September quarter. The company posted a net loss of Rs 1,537 crore for the quarter ended September 30, 2022. Its revenue from operations grew 16 percent to Rs 2,193 crore during the quarter as compared to Rs 1,893.71 crore in the same quarter a year ago.

Piramal Enterprises is a diversified Non-Banking Financial Company registered with the Reserve Bank of India. It has a presence across retail lending, wholesale lending, and fund-based platforms.

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