HDFC Bank anchors at Palava

April 2, 2018

Mumbai, July 2, 2018: The first commercial tower of Lodha Group's Palava, recognized as India's No.1 Liveable City*, now houses HDFC Bank (India's leading private sector bank). The building will also host the office of Zone Startups India, a partner in Palava's Accelerator programme, who will play an instrumental role in mentoring over 25 startups at the new office soon.

With increased job creation in the area, this partnership is the ideal start for Palava's emergence of as a new economic hub for companies across BFSI, IT/ITes, Media, startups among other industries. With lower operational costs, high quality living, 3 operational high quality schools, malls, parks, sports facilities and more, Palava will become the model of 'Work-Live-Learn-Play'.

Speaking on the occasion, Ms. Ashima Bhat, Group Head - Business Finance and Strategy, Administration, and Infrastructure, HDFC Bank said, "HDFC Bank endeavours to provide convenience and experience to customers across locations including upcoming business districts. We are happy to launch our new back-office at Palava to support our operations. The city's intelligent infrastructure, access to a captive talent pool, day-to-day city management by PCMA and a host of other amenities makes it a favourable destination."

Shaishav Dharia, Regional CEO, Lodha Group said, "We are excited to on-board India's largest private sector bank - HDFC at Palava, which is best suited for their quality infrastructure and ease of doing business. This partnership also manifests our vision to turn Palava into an economic hub by boosting job creation within the region. Companies will have access to a captive talent pool of over 2.5 lakh (as per Manpower Report) highly qualified professionals living in and around Palava. With exemplary social infrastructure in place, the
city will also offer a walk-to-work and sustainable ecosystem ensuring a healthier and productive lifestyle for all the employees."

The Lodha Group has planned 7 MM square feet of office spaces in the upcoming business district, 0.20 million square feet of high-street retail in addition to the existing Xperia Mall and 120-acre Grade A warehousing/non-polluting manufacturing park. Besides Palava, Lodha Group also has their commercial presence within the MMR with properties such as Lodha Excelus, Lodha Supremus and iThink by Lodha spread across Lower Parel, Wadala,
Andheri, Thane, Powai, and other locations.

About Palava
Palava, an approximately 4500-acre development located in Kalyan Dombivli, Mumbai is a smart city being developed and managed by Lodha Group. Phase I of Palava, spread over approximately 300 acres, was completed in 2016 with 18,026 units handed over to customers as of December 31, 2017. IN 2017, possession in its second phase of development is already underway. Some of the best companies from around the world including Suez Water Technologies and Solutions (formerly known as GE Water and Process Technologies), IBM, Amplus, Philips Lighting and many other majors are working together to create a smart and sustainable Palava.