JSW Group to bring all its firms under one roof
Nov 21 2012 , Mumbai
The eight storey, 3 lakh sq ft headquarters will be occupied in the first quarter of 2013 and will see JSW group move out of more than three different office locations in south and central Mumbai including Jindal Mansion. “The first six floors of the building are already ready and we are waiting for the occupation certificate from the local authorities to start moving in. The seventh and eight floors have been reserved for our group chairman Sajjan Jindal and the top management team of the group,” said a top Jindal South West group official who requested anonymity.
Seshagiri Rao, joint managing director of JSW Steel and group chief financial officer said “early next year we are planning to shift to our head quarters to Bandra Kurla Complex as the construction is nearing end. We will shift all our corporate offices in the new building.”
At the moment the company has offices in Jindal Mansion at Peddar Road, Victoria House at Lower Parel and The Enclave at Prabhadevi all in Mumbai. Jindal Mansion where Jindal himself sits with senior group functionaries in the prestigious South Mumbai area off Altamount Road is spread across sprawling 30,000 square feet while The Enclave is around 10,000-15,000 square feet. The group will also vacate the Morena house property also in South Mumbai.
“The four corporate offices in Mumbai house around 750 to 800 employees altogether,” said a senior official of the company declining to be identified. The new office at Bandra Kurla can accommodate around 800 employees.
A top JSW group official added that they had not yet decided whether to retain or sell the vacated offices, which occupy prime real estate. The group also has another office which houses all back office staff, at Grande Palladium, Kalina, Santacruz East, which will not be shifted to the new Bandra Kurla premises. The Grande Palladium office is being retained as those personnel will not be moving to the new corporate headquarters,” said a top official.
The new HQ for the JSW group has been constructed by Orbit Corporation. Located in Mumbai’s emerging business hub at Bandra Kurla Complex, JSW Head Quarters will have 12 glass panelled elevators with one service elevator, power back up for common amenities, water proofing, fitness centre with housekeeping facilities. It is planned as a platinum LEED green building and a total saleable area of 3,50,000 sq ft.
The JSW group had bought the commercial complex spread across 2.2 acres near from BSE listed Orbit Corporation in a deal worth Rs 807 crore in 2007 including construction and development costs.