Image source: Pixr8
One97 Communication which owns the digital wallet company Patym purchased a 10 acre plot along the Noida Expressway in Uttar Pradesh. The plot would serve as the headquarters of Paytm upon its completion and will become the pivot for all its operations. Spread over the sprawling 10 acre plot, Paytm’s dedicated office campus is expected to accommodate more than 15,000 employees. It will also be eco-friendly and energy-efficient.
Based on current market price of 12-15 Cr per acre, the deal size of the plot is pegged at 120-150 Cr. Sources revealed that One97 Communications purchased the land directly from the Noida Authority, the nodal body for managing Noida’s infrastructure.
Launched in 2010 by Vijay Shekhar Sharma in 2010, the company has grown into a full-fledged financial services entity and has around 20,000 employees. Out of these 760 employees work out of Paytm’s present head office in Noida and the remaining out of the offices in Delhi-NCR, Bengaluru, Chennai and Kolkata.