HDFC Bank Group today announced the launch of its new premises that will house the offices of several of its group companies in GIFT City, Gandhinagar, Gujarat. The financial services conglomerate inaugurated its new office in GIFT City in the presence of its senior leaders, and representatives from International Financial Services Centre (IFSC). HDFC Bank Ltd IBU, along with leadership from its group companies HDFC AMC International (IFSC) Limited, HDFC International Life and Re Co. Ltd, HDFC CapitalAdvisors Limited (IFSC Branch) and HDFC SecuritiesIFSC Limited will now operate out of the Flex One building in GIFT City.
The HDFC Bank Group journey in GIFT City, Gandhinagar has been marked by steady growth.The balance sheet of HDFC Bank GIFT City IBU has grown over four-fold over the past five years, closing FY 2025-26 with a balance sheet of over USD 5.5 billion.
Spread across 16,250 square feet, the new premises was inaugurated by Mr. Kaizad M Bharucha, Deputy Managing Director, HDFC Bank; Ms.Vibha Padalkar, MD & CEO, HDFC Life; Mr. Navneet Munot, MD & CEO, HDFC AMC; and Mr. Dhiraj Relli, MD, HDFC Securities. Senior officials of IFSCA graced the occasion, including Mr. Dipesh Shah, Executive Director-Department of Development and Mr. Pradeep Ramakrishnan,Executive Director- Department of Capital Markets.
The HDFC Bank Group brings capabilities across banking, asset management, insurance, capital markets, and real estate investment. The GIFT City branch of these companiesoffers customers a comprehensive suite of products and services, including wholesale banking, an extensive range of Wealth Management solutions catering to the investment needsof Non-Resident Indians (NRIs) (including foreign currency denominated CASA accounts, Term Deposits, USD denominated insurance, foreign currency Bonds, Global Mutual Funds, Alternate Investment Funds), structured trade and finance, cross border payments, bullion trading, funds and custody business, mutual funds, insurance, and life insurance products, among others.
With a young presence in GIFT City, HDFC Bank Group has seen strong growth in business across segments. The Bank was amongst the first in the industry to participate in local USD clearing settlement system, which became operational in GIFT City last financial year.The Bank’s IBU was also registered as an International Financial Service Centre Insurance Intermediary Office, to act as a corporate agent for insurance; it obtained the capital market licence for wealth product distribution; became a trading-cum-clearing member (TMCM) on the Indian International Bullion Exchange for bullion and arranged over-the-counter products like foreign currency bonds and forwards.
The Group’s presence at GIFT City allows global investors and institutions to increasingly seek integrated solutions, deep expertise, and trusted partnerships. By coming together under one roof, the Groupcompanies will benefit from greater collaboration and faster decision making in serving customers. More than 100 employees across the group entities will be based at thepremises, servingboth international and domestic clients fromGIFT City.
Speaking on the occasion, Mr. Dipesh Shah, Executive Director, IFSCAsaid,“The presence of the consolidated HDFC Groupin GIFT IFSC is not just about opening an office. It is about opening new pathways – for global capital, innovation, talent and trust.”
Mr. Kaizad M Bharucha, Deputy Managing Director, HDFC Bank said, “Within a short period of timewe have registered a healthy growth in business, expanded client relationships, increasing number of cross-border opportunities and a growing role in supporting global financial flows connected to India. We have made trade finance available to even our SME customers, facilitating their international ambitions. The Group’s new office at GIFT City gives a fillip to our commitment to serving the international financial requirements. Customers coming to our office in GIFT City can choose from a bouquet of products across banking, insurance, investments, and foreign remittances, among others.”