Piramal Capital and Housing Finance Ltd (PCHFL) has sold a large office building, the Napha Building, in Mumbai’s Kalina area to Shoquba Realty for ₹187 crore. This property, which has eight upper floors and three podiums, was originally owned by Dewan Housing Finance Corporation Limited (DHFL).
The building covers 77,079 square feet in one of Mumbai’s key commercial zones in Santacruz. It also has two basement levels and a stilt area in addition to the three podiums and eight floors.
The sale was completed on September 27, 2024, through a deed of transfer, with documents provided by Propstack, a real estate data firm. Shoquba Realty paid ₹11.22 crore in stamp duty to register the deal.
Piramal Enterprises confirmed the deal in a regulatory announcement, emphasizing that the buyer has no connections to the company’s promoters or group companies, meaning the transaction is not classified as a related party deal.
After acquiring several DHFL assets following its bankruptcy, Piramal Capital has been selling non-core properties to strengthen its financial position. This sale of the Napha Building is part of that ongoing strategy.
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