Ruia's promoted Essar Group is moving its energy, steel, power and infrastructure businesses from its landmark office at Mahalaxmi to its new office at Kurla.
The group businessess will be operating from the Equinox Business Park, Peninsula Techno Park at suburban Mumbai's Kurla area.
The move is part of the Essar Group's plan to consolidate operations in one place in order to save on cost.
Essar Realty Holdings, the realty arm of the Essar Group, had bought the property for Rs 1200 crore in 2008 from the Ashok Piramal Group company Peninsula Land.
The IT park, developed on the land owned by Swan Mills and jointly developed by Peninsula and Swan, has approximately 1 million sq feet of space and houses four buildings.
According to sources, with the group expanding its operations, it was seeking a bigger space for its executives. While its Mahalaxmi office can accomodate around 50-60 persons per floor, the Kurla office will have a space for 250 executives.
Two of the buildings on the premises of the busines park will be used by Essar Group while the others will be rented out.
However, the group's IT, publishing and agribusiness will continue to operate from its Mahalaxmi office.
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