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Adani Group's subsidiary, Manorview Developers, has been appointed as the Engineering, Procurement, and Construction (EPC) contractor for Paytm's upcoming IT and ITes complex in Noida's Sector 159. This development follows Paytm's termination of a previous joint development agreement due to non-compliance with NOIDA regulations, leading the company to pursue the 10-acre project independently. The appointment of Manorview Developers signifies a significant step forward for Paytm's complex, originally allocated by the Noida Authority in 2018, and underscores the growing demand for large-scale IT infrastructure in the National Capital Region.
Manorview Developers, a subsidiary of the Adani Group, has been appointed as the Engineering, Procurement, and Construction (EPC) contractor for Paytm's proposed IT and ITes complex in Noida's Sector 159. This development marks a significant step forward for the long-planned project. Advertisement
The decision to appoint Manorview Developers comes after Paytm terminated a previous joint development agreement it held with ACE Builders and Promoters. The termination was reportedly due to non-compliance with NOIDA regulations, leading Paytm to proceed with the development of the 10-acre complex independently.
The plot for this extensive IT and ITes complex was originally allocated to Paytm by the Noida Authority in 2018. The appointment of a new EPC contractor is a crucial step towards commencing construction on the site, which is expected to house a modern facility for Paytm's various technology and IT-enabled services operations.
This project highlights the continued demand for large-scale commercial and IT infrastructure within Noida and the broader National Capital Region (NCR). The Adani Group, through its subsidiaries like Manorview Developers, is increasingly involved in various infrastructure and real estate projects across India, further expanding its footprint in major urban development. The completion of this complex is anticipated to bolster Noida's position as a prominent IT and business hub.
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