Adani Group firm Manorview Developers, a wholly-owned subsidiary of Adani Infrastructure and Developers, will develop the IT and ITES complex of One97 Communications, the parent company of Paytm, in Noida.

The fintech company was originally allocated a 10-acre plot in Sector 159, Noida by the Noida Authority in 2018 for this project. In January 2024, Paytm had entered into a proposed joint development agreement (JDA) with ACE Builders and Promoters to develop the project, wherein ACE was expected to raise the required capital. However, the arrangement with ACE did not move forward in accordance with Noida rules and byelaws.

As a result, Paytm’s board has approved a fresh step to proceed independently, appointing Manorview Developers as the Engineering, Procurement, and Construction (EPC) contractor for the project, subject to execution of definitive agreements. The upcoming IT/ITES complex is expected to play a significant role in supporting the company's long-term technology operations.