JSW Infrastructure Buys Rs 88-Crore Office Space in Navi Mumbai’s Seawoods Grand Central

JSW Infrastructure has bought an office space in Navi Mumbai’s Nerul from L&T Realty for Rs 88 crore. The office space includes 11 units spread across three wings in the L&T Seawoods Grand Central commercial complex, covering a total area of over 52,690 square feet.

This purchase is notable because many companies prefer leasing office spaces instead of buying them outright. Along with the office space, JSW Infrastructure will also get access to over 52 car parking spots in the tower. The company paid Rs 5.29 crore in stamp duty for the deal, which was finalized on July 16, according to documents from Propstack.

Both JSW Group and L&T Realty declined to comment on the transaction.

On Thursday, JSW Infrastructure reported an 8% decrease in its consolidated net profit for the quarter ending in June, amounting to Rs 296.55 crore. However, the company’s total revenue rose by 20% from the previous year, reaching Rs 1,104 crore. Additionally, JSW Infrastructure, through its subsidiary JSW Port Logistics, has agreed to buy a 70.37% stake in Navkar Corporation from the promoters for Rs 1,644 crore. This deal is expected to close by the third quarter of this financial year.