Nippon Life India Asset Management has finalised the purchase of a prime commercial property in Mumbai’s bustling Lower Parel business district. The Rs 486 crore deal involves two floors of premium office space at One Lodha Place, a 36-storey commercial tower developed by Lodha Group (Macrotech Developers). This acquisition marks a strategic upgrade for Nippon Life, as it plans to relocate its headquarters from the Peninsula Business Park in the same area.
Spanning 52,162 square feet across the 29th and 30th floors, the office space also includes exclusive signage rights for Nippon Life, offering prominent visibility within this prime commercial hub. The deal was formalised with the payment of a portion of the total amount and stamp duty, with the balance of Rs 400 crore expected to be cleared by 6 December, according to sources close to the development.
In a regulatory statement, Nippon Life India confirmed that this transaction does not fall under related party dealings, with no shareholding connections to the seller. The filing, however, refrained from specifying the relocation plans for its corporate headquarters. This move comes as Nippon Life India strengthens its footprint in Mumbai’s commercial real estate market. As the first asset management company to list on Indian stock exchanges in 2017, Nippon Life India has cemented its position as a leading player in the investment sector. Its portfolio encompasses a diverse range of offerings, including mutual funds, ETFs, portfolio management services, and offshore advisory mandates. The acquisition of this high-end office space signals Nippon Life’s ambition to scale its operations while establishing a landmark presence in one of Mumbai’s most prestigious business districts.
