Paytm has a new address – a swanky building with 21 floors, multi-level car parking, shopping complex and gourmet restaurants

• The $16 billion Paytm has bought two towers in Noida for a new office campus – over 5.5 lakh square feet across 21 floors.
• But the company is letting go of the leases of 19 facilities across India – out of which 16 are regional offices.
• For several offices, work from home will become the new norm.

Vijay Shekhar Sharma has a new office address. The $16 billion Paytm has bought two towers in Noida for a new office campus – over 5.5 lakh square feet across 21 floors. The office space will have 5,000 seats and promises to accommodate people even with social distancing in place.

Paytm Mall, the e-commerce vertical of Paytm owner One97 Communications, had earlier this month announced that it’s shifting base from Noida to Bengaluru. The company also said that along with the move, it is also looking to ramp up operations and hire 300 people for product and technology roles in Bengaluru.

The new office will have multi-level car parking, a shopping complex with food courts and gourmet restaurants as well.

The startup plans to complete the transition to the new office by December-end and with this the company is letting go of the leases of 19 facilities across India – out of which 16 are regional offices. For several offices, work from home will become the new norm.

“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. Consolidating our offices to one large campus would improve operational efficiency and further create synergies between various teams and processes,” said Narendra Yadav, Vice President, Paytm.

The company which has moved Paytm Mall’s operations to Bengaluru is also taking up a 1.5 lakh sqft space in the city for its office – this would house its engineering units.

One97 Communications reported a loss of ₹4,217 crore in FY2019, and its revenues recorded a marginal growth to ₹3,579 crore from ₹3,309 crore. In the same year, Paytm clocked in a gross transaction value of $50 billion through 5.5 billion transactions.


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