Additionally, it is looking to lease another 1.5 lakh sqft in Bengaluru, which will house its e-commerce division (which is shifting from Noida to Bengaluru), mutual fund, and travel businesses. The SoftBank- and Alibaba-backed company had bought a 10-acre land parcel in 2018 in Noida to build its own campus, but that plan has been put on hold for now.
Paytm’s move comes at a time when routine work-from-office arrangements are changing rapidly and only 25-50% of the total workforce of large internet-based startups are expected to come to the office for the rest of the year. Paytm said it is giving up the leases of a total of 19 facilities across the country, out of which 16 are small regional sales offices.