The offer, with a face value of ₹5 per equity share, comprises an Offer for Sale (OFS) of up to 3.55 crore shares by the company’s promoter, Mr. Vijay Surana J. No fresh issue component has been announced.

Company Overview

Incorporated in 2004, Grand Housing focuses on plotted real estate development primarily in Tamil Nadu, especially in and around Chennai. The company’s business model involves:

• Acquiring parcels of land
• Building basic infrastructure — roads, power, sewage, water
• Converting the parcels into developable land for residential or industrial use

In some cases, Grand Housing acquires contiguous parcels to create larger tracts for more economically viable development.

Project Segments

1. Residential Plotted Development
   • Target buyers: individual homeowners constructing houses or villas
   • Plot sizes: 600–2,400 sq. ft.
   • Pricing: ₹1,500–₹5,000 per sq. ft.
2. Industrial Plotted Development
   • Focuses on large contiguous parcels for industrial use

The company’s operations are concentrated in Chennai, one of India’s most urbanized and economically dynamic cities, benefiting from cultural heritage, moderate climate, and robust population growth.

Land Bank and Financials

As of March 31, 2025, Grand Housing had land reserves of 83.13 million sq. ft. (1,908.52 acres), excluding ongoing, completed, and upcoming projects.

• Revenue from operations: ₹156.66 crore in FY25 (vs ₹94.61 crore in FY23)
• Net profit: ₹84.59 crore in FY25 (vs ₹30.92 crore in FY23)

IPO Structure & Listing Plan

The IPO will be carried out through the book-building process:

• QIBs: Not more than 50% of the offer
• Non-institutional bidders: Not more than 15%
• Retail investors: At least 35%

Smart Horizon Capital Advisors is the Book Running Lead Manager, and Bigshare Services Pvt. Ltd. is the Registrar. The company’s equity shares are proposed to be listed on BSE and NSE.

Also Read: WeWork India Files DRHP with SEBI for IPO

The post 🏠 Grand Housing Files DRHP for ₹5 Face Value IPO; Entire Offer is OFS by Promoter appeared first on Square Feat India.

Knowledge Realty Trust (KRT) – Key Highlights

• Sponsors: Sattva and Blackstone
• Portfolio Size: 48 million sq. ft. (37 million sq. ft. completed) across 30 Grade A office assets in six cities
• Market Strength: 95% of the portfolio’s value is concentrated in India’s top three office markets – Bengaluru, Hyderabad, and Mumbai
• Largest REIT in India by Net Operating Income (NOI) and Gross Asset Value (GAV)
• Second Largest in Asia by leasable area
• High-Quality Occupancy: 90% leased to marquee tenants, including 76% MNCs and 45% Global Capability Centers (GCCs)

Key Assets in the Portfolio

• Sattva Knowledge City: 7.3 million sq. ft.
• Sattva Knowledge Park: 3.3 million sq. ft.
• One BKC: 0.7 million sq. ft.
• Image Tower: A 400-foot-tall business park under construction in Hyderabad, developed under a Public-Private Partnership (PPP) with the Telangana government
• Sattva Global City: 12.3 million sq. ft. spanning 71.2 acres
• One International Centre: 1.8 million sq. ft.
• One Unity Centre: 1.0 million sq. ft.
• One World Centre: 1.7 million sq. ft.
• Cessna Business Park: 4.2 million sq. ft.
• Sattva Softzone: 1.0 million sq. ft.

Financial Strength & Market Position

• NOI Growth: Projected 18% CAGR (FY25-27)
• MTM Potential: 15% upside
• Low Loan-to-Value (LTV) Ratio with a robust Right of First Offer (ROFO) pipeline, including 7 million sq. ft. across four identified assets
• WALE: 8.6 years, ensuring long-term lease stability
• Sustainability Focus: 63MW solar power, green-certified buildings, waste recycling initiatives, and energy-efficient infrastructure

Blackstone’s Continued Confidence in India

Following its success with Embassy, Mindspace, and Nexus REITs, this will be Blackstone’s fifth public listing in India, reinforcing its long-term commitment to the country’s commercial real estate sector.

Sattva Group’s Market Legacy

Sattva Developers Private Limited has been a prominent player in India’s real estate industry for over three decades. With 74 million sq. ft. of completed projects across seven cities and an additional 75 million sq. ft. under planning, the group has earned accolades such as the ET Best Realty Brand 2024 and IGBC Green Champion Award. The company also boasts an upgraded CRISIL ‘A+/Stable’ rating since 2022.

India’s Strong Office Market Fundamentals

• Fastest-growing major economy with stable interest rates
• Global Capability Center (GCC) hub: India holds a 58% share in the global outsourcing market
• Competitive Edge: Cost arbitrage, STEM talent pool, and a skilled, English-speaking workforce
• Grade A Office Demand: Expected to outpace supply, with 82 million sq. ft. in demand projected for CY24

Key Personnel Leading the IPO

• CEO: Shirish Godbole (Former Morgan Stanley, Goldman Sachs)
• COO: Quaiser Parvez (Former CEO, Nucleus Office Parks)
• Sponsor Board Members:
  • Blackstone: Tuhin Parikh
  • Sattva Group: Bijay Agarwal, Shivam Agarwal

The KRT IPO is set to redefine India’s REIT landscape, offering investors a diversified and high-quality office asset portfolio backed by two of the most trusted names in real estate. The proposed REIT listing is expected to attract strong institutional interest and further solidify India’s position as a global hub for commercial real estate investments.

Also Read: Arkade Developers Raises ₹122.40 Crore Ahead of IPO

The post Sattva Group and Blackstone File Draft Offer Document for India’s Largest REIT IPO appeared first on Square Feat India.