IndiGo promoter buys Pepsi’s corporate headquarters in Gurgaon for Rs 50 crore

InterGlobe Enterprises, the promoter of budget carrier Indigo Airlines, has bought beverage maker Pepsi’s corporate headquarters in Gurgaon, near Delhi, for Rs 50 crore. The 37,000-square feet Pepsi office is in DLFCorporate Park on Mehrauli-Gurgaon Road. The building also houses the headquarters of InterGlobe.

As part of the deal, Pepsi has leased back the space from the buyer until its new office building on Golf Course Road in Gurgaon is ready.

“InterGlobe Enterprises has purchased Building 3B, belonging to PepsiCo, at DLF Corporate Park in Gurgaon,” a spokeswoman for InterGlobe said. “We already have our corporate headquarters in the same premises and the additional space has been purchased to cater to future growth plans and centralise operations.”

Property advisory firm CBRE was the advisor for the transaction. A PepsiCo India spokesman did not confirm the deal but said: “As announced in December, we have signed a lease agreement with Pioneer Urban for office space in Gurgaon, which is under construction. Currently, we operate out of five offices in Gurgaon and plan to consolidate our headquarter operations under one roof.”

Pepsi was among the first multinational companies in the post-liberalisation era to move its office to Gurgaon, which at that time was being conceived as an office hub for MNCs, a distinction it achieved some years ago.

Source: Economic Times