NSE To Shift Headquarters, BKC Landmark To Become Data Centre: Report

The Mumbai Metropolitan Region Development Authority (MMRDA) reportedly granted NSE a long-term lease exceeding 80 years for a premium land parcel spanning over an acre in BKC’s G Block.

The National Stock Exchange (NSE), India's largest stock exchange, is planning to transform its iconic headquarters in Mumbai’s Bandra-Kurla Complex (BKC) into a dedicated data centre.

To accommodate its growing needs, the exchange is going to shift its main office to a newly allotted site within the same business district, reported The Economic Times citing sources familiar with the matter.

The Mumbai Metropolitan Region Development Authority (MMRDA) granted NSE a long-term lease exceeding 80 years for a premium land parcel spanning over an acre in BKC’s G Block.

The Maharashtra government’s planning and development authority officially issued the allotment letter to NSE last week. Construction of the new headquarters was expected to commence soon, pending regulatory approvals.

“The exchange is looking for bigger space in the backdrop of rapid growth and expansion plans. The new headquarters are expected to be completed in approximately three years after obtaining the necessary approvals, the process for which is expected to start soon," the report said quoting one of the sources.

The NSE building, among the first structures in BKC, symbolised the shift of India’s financial hub from Nariman Point, which was established on reclaimed land near the Queen’s Necklace in the 1960s.

Expansion and Operational Consolidation

Recently, NSE secured nearly 175,000 sq. ft. of office space in Adani Inspire, a commercial tower in BKC, through a long-term lease. The exchange also continues to operate from its offices in Ghatkopar and Brookfield’s Equinox Business Park.

Currently, its headquarters houses crucial departments, including the information technology division, and also hosts listing and related events. The upcoming office is anticipated to bring all core functions under a single roof, optimising operations.

Exchange Plaza, the NSE’s existing headquarters, occupies a total built-up area of around 183,000 sq. ft. and has long served as a significant hub for market operations. As the largest exchange in India by trading volume and market capitalisation, NSE also ranks among the leading derivatives exchanges globally.

The exchange commenced operations in June 1994 with the wholesale debt market (WDM) segment, and introduced equities trading in November that year. It was also the first exchange in India to implement electronic trading, revolutionising the country’s financial markets.