The REIT, structured with a 55:45 shareholding between Blackstone and Sattva, is set to become India’s largest office REIT by Net Operating Income (NOI) of ₹4,300 crore and Gross Asset Value (GAV) of ₹60,000 crore.
With a 48-million-square-foot portfolio spanning 30 Grade A office assets across six cities, KRT is India’s most geographically diverse office REIT. Nearly 95% of its value is concentrated in Bengaluru, Hyderabad, and Mumbai, making it the highest-exposure front-office REIT in the country.
Major properties include Sattva Knowledge City (7.3 million square feet), Sattva Global City (12.3 million square feet) spread across 71.2 acres, and Cessna Business Park (4.2 million square feet), all positioned in prime business districts.Also Read: Tata Capital seeks as much as $11 billion value in India IPO
Additionally, One BKC (0.7 million square feet) in Mumbai and Image Tower, a 400-foot-tall iconic structure under construction in Hyderabad’s Hitech City under a PPP model with the Telangana Government.
This marks Blackstone’s fifth public listing in India’s real estate sector, following the successful listings of Embassy REIT, Mindspace REIT, Nexus REIT, and Ventive Hospitality (C-Corporation).
The portfolio boasts a 90% occupancy rate, with 76% of tenants being multinational corporations (MNCs) and 45% Global Capability Centers (GCCs). This will be Blackstone’s fourth REIT listing in India and the biggest office REIT IPO in the country to date. Investors will benefit from an attractive 7% pre-tax yield, with 80% of distributions being tax-free.
Sattva Developers Private brings over three decades of real estate excellence, having constructed 74 million square feet across 7 Indian cities in commercial, residential, co-living, co-working, hospitality, and data center sectors.
Also Read: Real estate player Pranav Constructions files IPO papers with Sebi
First Published: Mar 6, 2025 10:16 PM IST
