New Delhi, June 18 – Knowledge Realty Trust (KRT), a new real estate investment trust (REIT) backed by global investment giant Blackstone and Bengaluru-based Sattva Group, has raised ₹1,400 crore in a pre-IPO round. This fresh round of capital comes from wealthy individuals and family offices—setting the stage for what could be India’s largest office REIT launch.
KRT is preparing to raise a total of ₹6,200 crore through its upcoming public issue. The draft prospectus for the IPO was filed with SEBI earlier in March. The goal: to take the REIT public and unlock the value of its vast office property portfolio spread across India’s top business cities.
A Strong Start with Big Ambitions
With ₹1,400 crore already secured, KRT has attracted early interest even before hitting the stock markets. Once listed, it is expected to become India’s biggest office REIT in terms of both Net Operating Income (NOI) and total asset value, which is pegged at around ₹60,000 crore.
KRT owns a portfolio of 30 high-quality commercial properties, totaling 48 million square feet. Of this, 37 million square feet is already completed. The projects span six major cities—making KRT the most geographically diverse office REIT in India.
An impressive 90% of this space is already leased. Most of the tenants are multinational corporations, and nearly half the leased space is occupied by Global Capability Centres (GCCs), providing a steady source of rental income.
India’s REIT Landscape is Growing
KRT will be the fifth REIT to go public in India. The current players include Embassy Office Parks, Mindspace Business Parks, Brookfield India REIT, and Nexus Select Trust. While Nexus focuses on retail spaces, the others are primarily office-based—just like KRT.
This will also mark Blackstone’s fifth real estate listing in India, following its successful REITs and the launch of its hospitality platform, Ventive.
Backed by Real Estate Heavyweights
Sattva Group, one of the leading real estate developers in India, has already delivered 74 million square feet of real estate across seven cities. This includes projects in commercial, residential, hospitality, and data centre segments. The company also has another 75 million square feet currently under development.
Blackstone, meanwhile, has long been a dominant force in Indian real estate, and its deep experience and global network add strength to the KRT venture.
The two sponsors have chosen a brand-neutral approach to growth—meaning they’re open to acquiring high-quality properties from other developers as well, not just from their own pipelines.
A Bright Future for REITs in India
India’s four existing REITs already manage more than 126 million square feet of commercial and retail space. Together, they’ve distributed over ₹21,000 crore to investors since their respective listings.
According to research by Vestian, nearly 60% of premium office properties across India’s top seven cities qualify as REIT-worthy—indicating that the country’s REIT market still has plenty of room to grow.
Final Word
With a rock-solid portfolio, trusted sponsors, and strong early investor backing, Knowledge Realty Trust is set to make a big splash in the Indian market. As more institutional and retail investors look for stable, rental-yielding assets, KRT’s public debut could mark a significant milestone for India’s growing real estate investment landscape.
Also Read: Raymond Realty Eyes ₹4,000 Cr Topline by FY30, Focuses on Asset-Light Model
