Morgan Stanley is set to shift their current 13-year-old India headquarters into a larger office space in Mumbai from a premises owned by Blackstone Inc. as the company expands its footprint in the country.
The US firm will shift into a space measuring about 86,000 square feet in an office block named Altimus Worli in central Mumbai from a 65,000 square feet space in Blackstone-owned One World Center, less than a mile away from it, according to people familiar with the matter. A spokesperson for the bank confirmed the move.
Also read: India to emerge as key driver of Asian, global growth: Morgan Stanley
The shift into the space spread over two floors will be done next year. Goldman Sachs Group Inc., SoftBank Group Corp. and domestic lender Axis Bank Ltd. also have offices in the area.
The relocation into a larger office underscores Morgan Stanley’s growth ambitions in India, where it has been operating for about three decades. The bank is bullish on the nation’s prospects, with a May report from its research division saying the country has transformed in less than a decade, boosting its markets and economy.