When the relocation takes place, the Voltas top management presently housed at Ballard Estate will be ensconced at Voltasagar building in Chinchpokli which has 55,000 square feet of built-up area.

The 300 employees earlier working out of Voltasagar have already been relocated to a new administrative building called Voltasagar B in the same compound.

According to company officials: ``The concept of consolidating all Voltas offices under one roof was being contemplated for a long time. We have enough space at Voltasagar in Chinchpokli to house all the employees, and hence the shift could happen in the near future. But we cannot put a date as to when it will happen.''

The shift to the suburbs seems all themore imminent after the state government lifted all protection to corporates under the Bombay Rent Act of 1947 in the last week of April.

The currently leased premises at Ballard Estate where the employees have been relocated are the buildings which have standard rentals of 1940. But now with the government resolution to defreeze the rentals, Voltas will be forced to shell out increased rentals for these premises. Therefore, it will be more economical for the company to relocate itself to Chinchpokli.

Only a year back, the company had moved out of Voltas House, its headquarters for 60 years, which it plans to lease out. The decision was part of a move to make full use of its huge real estate assets and improve the company's cash flow position as it had posted losses for two consecutive fiscals. In the process, the company also relocated almost 100 employees from the corporate office to leased premises at Ballard estate.

Currently, Voltas employees are working out of leased premises in three buildings inBallard estate apart from the corporate office at Volkart House.

These include three floors of Henley House which houses the accounts, legal and HRD departments of the company. The second floor of Enkay House has the material & machine handling and the mining divisions, while the Manajiwadi building at Fort houses the share department of the company.

It is expected that the company may be able to romp in State Bank of India as lessors for Voltas House later this month. According to Voltas officials, the company would follow a common strategy of putting its realty assets to more profitable use by giving it on lease and relocating the employees to more economical locations.