Mumbai, India – In a significant move underscoring its expansionary vision, Jaipur-headquartered AU Small Finance Bank has acquired an entire commercial tower on the Western Express Highway in Mumbai’s coveted Bandra locality. The outright purchase, valued at over ₹371 crore from realty developer Earth Worth Constructions, marks the largest such office deal by a financial institution this year.
The 11-storey property, which includes two basements and a total of 98 car parking slots, spans over 74,577 square feet. AU Small Finance Bank intends to utilize the space to establish a new corporate office in India’s financial capital, the bank paid a stamp duty worth ₹22.26 crore for the deal at the time of registration.
This acquisition comes at a time when the Indian office property market is experiencing remarkable growth. This boom is fuelled by a robust economy, increasing demand from both domestic and international companies, a steady rise in economic activity, the expansion of multinational corporations into India, and a thriving startup ecosystem. Furthermore, India’s growing prominence as a global outsourcing hub and its large talent pool have significantly boosted the need for high-quality office spaces in metropolitan cities and emerging business hubs.
The newly acquired tower was previously occupied by agriculture products and solutions provider UPL Ltd—formerly known as United Prosperous—under a long-term lease spanning over 10 years. UPL vacated the property last year after the lease term concluded.
While most financial institutions have recently been observed picking up office spaces through long-term leases, AU Small Finance Bank’s outright purchase signifies a strong capital commitment. This strategic investment aligns with the bank’s recent performance; for the year ended March, the listed bank reported a robust 32% year-on-year growth in net profit, amounting to ₹2,106 crore. The bank boasts a significant operational footprint with a network of over 2,456 banking touchpoints across 21 states and four union territories, supported by a workforce of over 50,900 employees.
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