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Big Money, Big Moves: Bank of Baroda Tops Bids for Jet’s BKC Office as Brookfield Eyes Its Next Play

Updated: June 15, 2025 10:45

Image Source: MSN
Bank of Baroda has put in the highest bid for Jet Airways’ sought-after office space in Mumbai’s Godrej BKC tower, offering ₹370 crore at a recent auction. The property, located in the heart of Bandra-Kurla Complex, covers about 83,000 square feet and includes 70 parking spots.
 
Here’s what’s happening:
  • This office space is being sold as part of Jet Airways’ liquidation process. The reserve price was ₹335.24 crore, but Bank of Baroda’s bid topped that.
  • The deal isn’t done yet. Brookfield Asset Management, which already owns the third and fourth floors in the same building, has the right to match Bank of Baroda’s offer within 15 days if they want to buy it.
  • Brookfield has a good reason to consider this. They bought two other floors in the building back in 2020 for ₹490 crore, and those are currently leased to big names like the World Bank and PayPal.
  • The office had been sealed by the city authorities over unpaid dues, but a recent order from the National Company Law Tribunal cleared the way for the sale.
Whoever ends up buying the property will have to handle all the transfer fees, taxes, and any outstanding dues, since it’s being sold “as is.”
This auction is one of the final steps in Jet Airways’ long-running insolvency saga, which started back in 2019.
 
So, while Bank of Baroda is in the lead for now, Brookfield could still decide to take the office for itself.
 
Source: BW Legal World, Business Standard, Moneycontrol, Insolvency Tracker, Upstox, Times Now News, MNACritique

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