The Bhutani Group has bought a majority stake in WTC Noida, a company licensed to develop 13 World Trade Centers across India. This deal will help complete delayed projects through a revenue-sharing arrangement, according to three sources. Five of these centers, located in Noida, Chandigarh, Gurugram, and Gift City, are currently under construction and need at least ₹3,000 crore to finish.
“The original company struggled to complete the work. Although parts of these projects are already in use, more funds were needed to speed up construction. Bhutani Group has joined as a partner to improve sales, construction, and strategy,” said one source.
Together, these projects offer over 30 million square feet of leasable space. The World Trade Centers Association (WTCA) licenses developers worldwide to use their brand and services.
“All projects by WTC Noida are financially positive. The focus for the next few months is to push each project forward and ensure timely delivery. Decisions on future projects in cities like Varanasi, Amritsar, and Lucknow will be made later,” said another source.
Recently, Bhutani Group also won the bid to develop the Film City project for the Uttar Pradesh government. “This strategic investment covers various projects, aiming at customer satisfaction and job creation. We are also planning to expand into new areas as part of this acquisition, with new projects launching soon,” said a Bhutani Group spokesperson.
The WTCA is looking to grow its presence in India, with plans to add 10 more trade centers in the next five to seven years, increasing the total from the current 40 to over 50.
Currently, WTCA has licenses in 40 Indian cities, but not all of them have a building yet.
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