Key Highlights
- One97 Communications (Paytm’s parent) awards major IT/ITES project in Noida to Adani Group subsidiary Manorview Developers.
- The contract is valued at approximately ₹800 crore for a state-of-the-art tech campus on a 10-acre plot in Sector 159, Noida.
- Project is scheduled to be completed within 5 years.
- Paytm posts first consolidated net profit of ₹122.5 crore in Q1 FY26, with revenues up 28% year-on-year.
New Delhi: One97 Communications Ltd, the company behind digital payments giant Paytm, has taken a significant step in its infrastructure expansion by appointing Manorview Developers Private Limited an Adani Infrastructure and Developers Private Limited subsidiary as the Engineering, Procurement and Construction (EPC) contractor for its new IT/ITES complex in Noida.
Key Details:
- Location: Sector 159, Noida (10-acre plot allotted in March 2018 by Noida Authority)
- Scope: Construction and development of advanced IT/ITES facilities covering 40,000 square meters.
- Estimated Cost: ₹800 crore.
- Timeline: Targeted completion within 5 years.
- Development Route: After plans for a joint development agreement with ACE Builders and Promoters were dropped due to regulatory reasons, Paytm opted for a direct EPC model with Manorview Developers.
- Adani Connection: Manorview Developers is a wholly owned subsidiary of Adani Infrastructure, reinforcing Adani Group’s growing footprint in large-scale tech infrastructure projects.
Company Perspectives and Market Impact
The selection of Manorview Developers reflects Paytm’s drive towards accelerating its tech infrastructure plans and leveraging the expertise of prominent industry players. This project is expected to bolster Paytm’s operational capabilities, aligning with its vision of supporting a growing merchant and consumer ecosystem.
Shares of both Paytm and Adani Enterprises registered notable activity after the contract announcement, indicating investor optimism surrounding the collaboration.
Paytm’s Q1 FY26 Financial Performance: A Historic Turnaround
Following years of high-profile losses, One97 Communications announced its first-ever consolidated net profit for the quarter ended June 2025:
| Financial Metric | Q1 FY26 | Q1 FY25 | Growth |
|---|---|---|---|
| Net Profit/Loss | ₹122.5 crore | -₹839 crore | — |
| Revenue from Operations | ₹1,917.5 crore | ₹1,501.6 crore | +28% |
- Profit Drivers: Growth in subscription-based merchants, increased payment volume (GMV), and expansion in financial services distribution.
- Cost Management: Rigorous focus on cost and AI-driven operational leverage contributed to the bottom line.
Why This Matters
This collaboration marks a major milestone for both Paytm and Adani Group, reflecting the convergence of India’s fintech innovation and infrastructure prowess. The new IT/ITES hub will further cement Noida’s reputation as a fast-growing technology and business corridor, while Paytm’s profitability turnaround signals resilience and growth in India’s digital finance sector.
