Paytm Signs New Noida Office Deal, To Shift All Delhi NCR Operations To New Campus

India’s financial services platform, Paytm, amid the pandemic, has announced its new office deal to consolidate its workforce in the national capital. It has done so by taking up around 5.5 lakh square feet in Noida’s Sector 98. 

The company plans to gradually shift all operations based in Delhi-NCR to its largest campus including the headquarters of One97 Communications by December.

The newly set up office campus comprises of 21 floors spread across two towers in Skymark (earlier known as Lotus Isle) near Noida Expressway and the company is said to house around 5,000 of its staff there. The annual lease cost for the company would be Rs 70-80 crore. 

"While we have time to move into our biggest campus, we are streamlining some of our real estate spread across India. We will not extend the leases of some of our offices as our colleagues will continue working from home," said Narendra Kumar, Vice President, Paytm.

Additionally, it is planning to lease another 1.5 lakh square feet of office space in Bengaluru, which will house its teams of e-commerce divisions Paytm Mall(which is shifting from Noida to Bengaluru), Paytm Money, Paytm Travel and other business units as it expands operations.

The SoftBank- and Alibaba-backed company’s move comes at a time when routine work-from-office arrangements are changing rapidly and only 25-50% of the total workforce of large internet-based startups are expected to come to the office for the rest of the year. 

The new campus will have over 5,000 seats and the company said it will follow all social distancing guidelines.

The planned new campus will house Paytm''s large engineering base the company is in the process of setting up.

As it gradually shifts all its operations into the new office space the company said it is giving up the leases of a total of 19 facilities across the country, out of which 16 are small regional sales offices.

"Consolidating our offices to one large campus would improve operational efficiency and further create synergies between various teams and processes," said Kumar.