/ -- The new deal signifies the growing popularity of New Cuffe Parade as the next business district in Mumbai Presence of robust infrastructure, easy connectivity and proximity to Mumbai Airport, BKC increase the location's prominence in comparison to other areas Lodha Group has announced its deal with GMM Pfaudler, a market leader in Glass lined equipment, who will occupy world-class office space at the recently completed building Lodha Excelus at New Cuffe Parade in Wadala. The deal takes place in less than a month's time after the group announced Trent as the first and anchor client at the newly constructed office building.
GMM Pfaudler is publicly listed (on BSE and NSE) and is a JV between GMM (India) and US-based Pfaudler. The company is currently based in Lower Parel and will shift its base to New Cuffe Parade in April.
Lodha Excelus at New Cuffe Parade is one of the few new office buildings completed in the island city in the last few years. While the first office building at this project with over 8,00,000 sq.ft. of leasable area has been completed, the company is starting work on the second office building of about 11,00,000 sq.ft. soon.
"GMM Pfaudler is a world-leading process solutions company, providing technologies, solutions, services and innovations to meet the specific requirements of our customers in the chemical, pharmaceutical and other process industries. With our continued business growth, we were looking at moving our corporate office from Lower Parel. The new-age offices, plethora of benefits catering to the social & familial needs of employees and the growing eastern connectivity; Lodha Excelus, New Cuffe Parade matched our requirements perfectly," said Tarak Patel, Managing Director, GMM Pfaudler.
Commenting on the deal, Mr. Shaishav Dharia, Regional CEO, Lodha Group said: "We are extremely delighted to have GMM Pfaudler as our client at Lodha Excelus, New Cuffe Parade. The company will be operating from a world-class office that shall provide the best working environment and amenities for its employees. The strategic location of the complex, its proximity to the Mumbai International Airport, the Bandra Kurla Complex and the series of infrastructure developments around it that have eased connectivity to nearby stationsis bound to make this location as the next booming Central business district of Mumbai."
The deal signifies the growing importance of new aged commercial office spaces in key locations in Mumbai.
"With the availability of Grade A commercial offices; and close proximity to BKC, infrastructure is only getting better with the soon-to-open BKC-Sion connector. The corporate fraternity is endorsing New Cuffe Parade as an upcoming business district," said Gautam Saraf, Managing Director, Mumbai at Cushman & Wakefield.
Lodha Excelus at New Cuffe Parade, a mixed-use development spread over 23 acres and encompassing 10 residential and 3 commercial towers. The Lodha Offices portfolio comprises three brands, i.e., Lodha Excelus, front offices for large corporates, Lodha Supremus, boutique offices for growing businesses and iThink by Lodha for back office spaces with particular focus on IT/ITES sector.
Offering world-class offices spaces, the office spaces at Lodha are built with cutting-edge design to deliver exceptional levels of occupier well-being, environmental sustainability and collaborative work environments. Lodha Group has total of 2.5-3 million sq.ft. office space planned across three towers including the first completed tower.
About Lodha Group
Lodha Group is India's largest real estate developer by sales and construction area. The company has clocked net new sales of over INR 8,000 crores in FY 17-18 with collections of over INR 9,000 crores. Lodha Group delivered over 11,000 offices & homes in FY 17-18, which is estimated to be the largest delivery of multi-storied developments by any company in the world (ex-China).
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