Paytm to move all its Delhi-NCR operations to Noida in its largest campus yet

Fintech unicorn Paytm announced that it is moving out of its 19 leased offices in Delhi-NCR into a consolidated campus in Noida, Uttar Pradesh.

In a statement, the startup announced that it has set up its "biggest campus" yet in Noida accommodate its growing team, across 5.5 lakh square feet of space, comprising of 21 floors spread across two towers — designed to accommodate more than 5,000 employees.

"All teams of Paytm would be housed on various floors of the same tower of the complex resulting smooth day to day operations," it said.

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Even as the Indian government starts to relax the lockdown guidelines, it has suggested companies to continue to follow work from home policy.

For offices, the government has laid some guidelines — employees must work in shifts to prevent large gatherings, surfaces like desks and tables and other objects to be wiped and disinfected regularly, mandatory face masks, hand rubs, and if any employee shows flu-like symptoms, they should be given immediate leave.

In light of these rules, Paytm said, "At the moment, Paytm is promoting work from home culture to ensure the safety of its employees. As it gradually shifts all operations into the new complex, the company has decided to give up the leases of a total of 19 facilities across the country, out of these 16 are small regional sales offices."

The Vijay Shekhar Sharma-led company said that it is on track to shift to the new premises by this December, and that it will follow all social distancing guidelines set by the government. Paytm added that it will gradually shift all its operations based in Delhi NCR to this campus, including the headquarters of One97 Communication, which has been in Sector 5, Noida, for over two decades now.

Narendra Yadav, Vice President at Paytm, said,

"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."

Media reports reveal that the fintech major has been on a hiring and expansion spree as it eyes profitability. Even as several companies lay off employees, and announce pay cuts, Paytm is reportedly hiring 300 new members for product and technology across its business categories.

In its latest announcement, the company added that it is planning to take up over 1.5 lakh square feet of office space in Bengaluru as it expands operations and teams of Paytm Mall, Paytm Money, Paytm Travel, and other business units. The planned new campus will house Paytm's large engineering base that it is in the process of setting up.