AU Small Finance Bank buys Mumbai's Bandra Vishwas Tower for Rs 371 crore

MUMBAI: A commercial building near the western express highway in Bandra (East) has been sold for Rs 371 crore. The 11-storey tower, Vishwas, will have a new owner, AU Small Finance Bank, which purchased the property from developer Samir Bhojwani’s Earthworth Constructions. The agreement was registered on Tuesday, and a stamp duty of Rs 22.26 crore was paid. The building was earlier occupied by United Phosphorus Ltd (UBL), which had taken the building on a 10-year-lease. UBL vacated the building last year after the lease expired.People familiar with the transaction said AU Small Finance Bank will use this tower as its new corporate headquarters.