However, the company will soon move to a 10-storey glass tower, more in keeping with the current drive of the world's third largest spirits company - after Pernod Ricard and Diageo - to become a truly global player.
UB has been expanding its wings overseas. Last week, it introduced five of its brands - including the most expensive Indian-made whisky Antiquity Blue Rare Premium, its best-selling Bagpiper brand and Premium Romanov Vodka - in China.
It already exports 1.5 million cases of its various brands to West Asia, Africa and Asia, and recently signed a memorandum of understanding with Russian Standard under which it will export its single malt Black Dog and McDowell's No 1 whisky to a booming Russian market.
However, the drive will get truly ignited on Wednesday at The Glasgow Hilton Hotel, Glasgow, at 0930 local time, when Mallya addresses a press conference. Communications company Hill & Knowlton, which has sent the invite, has needlessly concealed the subject of the conference.
Everyone knows that it is to announce UB's acquisition of Glasgow-based Whyte & Mackay, owned by chairman Vivian Immerman and his brother-in-law Robert Tchenguiz, whose brands include Whyte & Mackay blended Scotch, Dalmore single malt whisky and Vladivar vodka.
After the Chinese launch in Shanghai, Mallya said he had been asked to pay £700 million for the company, without revealing whether he had agreed to it. Sources close to the development told Business Standard today that the final price was what the company found to be "a very good one".
They pointed out to UB's abortive bid to buy champagne house Taittinger last year as an example of how the company was not prepared to pay over the odds. If the deal is indeed clinched at £700 million, estimates say Imerman and Tchenguiz could make 400 times the amount they invested as equity when they refinanced Whyte & Mackay to become the sole owners in 2005. Whyte & Mackay currently has about £185 million of debt.
Yet, not grudging the current owners their riches, W&M is an attractive proposition for UB. It has a large stock of aged single malt whisky, which can be blended with India-made whisky to improve the flavour and add a touch of authenticity.
Secondly, its brands are well established and account for 9 per cent of the worldwide Scotch whisky market. And third, there is immense scope for expansion in India where Scottish whisky, plagued by high tariffs, now constitutes only 1 per cent of the market.
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market.What is more, Mallya will be getting a rejuvenated W&M, which recently invested £110 million in a restructuring and relaunch of its brands.
Imerman, who orchestrated the turnaround of the business, owns about two-thirds of the company. Tchenguiz, who has investments in property, pubs and retail, holds around one-third.
