Adani's Manorview Tapped to Construct Paytm's Flagship Noida IT Complex

Manorview Developers, a wholly-owned subsidiary of Adani Infrastructure and Developers, has been appointed to develop the IT and ITES complex for One97 Communications, the parent company of Paytm, in Noida.

The project is located on a 10-acre plot in Sector 159, originally allotted to Paytm by the Noida Authority in 2018. In January 2024, Paytm had proposed a joint development agreement (JDA) with ACE Builders and Promoters, under which ACE was to arrange funding and lead development. However, the arrangement did not proceed due to non-compliance with Noida Authority rules and byelaws.

Following this, Paytm’s board approved a new approach to move forward independently, appointing Manorview Developers as the Engineering, Procurement, and Construction (EPC) contractor, subject to the signing of definitive agreements.

The upcoming IT/ITES complex is expected to significantly bolster Paytm’s long-term technology infrastructure and operational capabilities.

News by Rahul Yelligetti.