Birla Corporation, now run by Harshvardhan Lodha, is looking to shift to a new address at Camac Street, about 3 km away from its century-old office at Birla Building in Kolkata, in a bid to get operational consolidation.
While no one in the MP Birla Group was available for comment, sources close to the development said all of the key offices under the Birla Corporation including those in cement, jute, vinoleum and auto trim division may be shifted to the new location at Industry House at 10, Camac Street. But it is not yet clear whether the company also intends to change its registered office.
At present, Birla Corporation, one of the largest cement manufacturers in India, occupies two floors in Birla Building at RN Mukherjee Road over nearly 24,000 sq ft. Birla Corporation, the flagship company of the MP Birla Group, was incorporated as Birla Jute Manufacturing Company Ltd in 1919.
“There is an emotional attachment to the old building, but the company may look at shifting key offices to the new premises,” said an insider. In fact, the possibility that Lodhas were looking at relocation was also mentioned by the Birla Education Trust before the Company Law Board in New Delhi.
Net profit of Birla Corporation increased to Rs 419.68 crore during the first nine months of 2009-10 from Rs 232.90 crore in the corresponding period the previous fiscal.