Adani’s Manorview Developers to Build Paytm’s IT Complex in Noida

Adani Group's Manorview Developers will develop IT and ITes complex of fintech firm One97 Communications, which owns Paytm brand, in Noida, the company said in a regulatory filing.

Here's a detailed breakdown of the latest development involving Adani Group and Paytm:

Project Overview

• Developer: Manorview Developers Pvt Ltd, a wholly-owned subsidiary of Adani Infrastructure and Developers.
• Client: One97 Communications Ltd, the parent company of Paytm.
• Location: Sector 159, Noida.
• Size: 10-acre plot allotted by the Noida Authority in 2018.
• Purpose: Construction of an advanced IT and IT-enabled services (ITES) complex to support Paytm’s long-term tech operations.

Shift in Development Strategy

• Original Plan: Paytm had entered a Joint Development Agreement (JDA) with ACE Builders and Promoters in January 2024.
• ACE was expected to raise capital and lead the development.
• Why the Change?: The JDA with ACE Builders was scrapped due to non-compliance with Noida rules and byelaws.
• New Approach: Paytm will now develop the project independently, appointing Manorview Developers as the Engineering, Procurement, and Construction (EPC) contractor.

Strategic Implications

• Signals Paytm’s commitment to expanding its tech infrastructure.
• Strengthens Adani Group’s footprint in digital infrastructure and fintech collaboration.
• Expected to boost local employment and contribute to Noida’s growing tech ecosystem.

India’s fintech infra is maturing from fragmented innovation to institutional-grade development, with players like Adani entering the fray. Paytm’s move signals a shift from startup-style agility to enterprise-grade infrastructure, aligning with global fintech maturity trends. Adani’s involvement could catalyze more private-sector participation in fintech infra, especially in Tier-1 cities.