Blackstone Acquires South City Mall for Rs 32.5 Bn

18 Jun 2025 CW Team

South City Mall is widely regarded as a premier retail destination in East India. Spanning more than one million square feet, it houses over 150 international and Indian brands. With an average annual turnover exceeding Rs 18 billion, the mall features the region’s largest food court, a multi-level parking facility for more than 1,250 cars, and attracts significant footfall—ranging from 55,000 to 60,000 daily visitors, which surges to between 75,000 and 200,000 during weekends and festive seasons.

Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, commented:

“We applaud Blackstone on this acquisition. South City Mall is truly a prized retail asset in a prestigious South Kolkata location. It offers a curated blend of premium lifestyle and retail brands such as Zara, Shoppers Stop, Tommy Hilfiger, Levi’s, Armani, Calvin Klein, The Collective, MAC, and Spencer’s.”

Soumendu Chatterjee, Regional Director – Land at ANAROCK Group, added: “We are proud to have advised on this high-profile transaction. This deal underscores ANAROCK’s ability to facilitate complex, high-value transactions and our continued commitment to advising on marquee assets. Under Blackstone’s stewardship, we expect the mall to further strengthen its position as a leading retail destination.”

Asheesh Mohta, Head of Real Estate Acquisitions – India at Blackstone, said: “We are excited to invest in this iconic retail asset. South City Mall serves as a community hub and an epicentre for shopping, dining, and entertainment in Kolkata. We aim to build on the South City Group’s legacy and ensure long-term growth, leveraging our scale and retail sector expertise.”

Prakash Bachhawat, Director at JB Group, who led the transaction on behalf of South City Projects, stated: “This acquisition is not just a business transaction; it represents a major boost of confidence in Eastern India’s retail market. South City Mall remains an iconic development and we’re proud to partner with a global leader like Blackstone.”

Launched in January 2008, South City Mall was developed by a consortium of leading regional developers. It remains a cultural and retail landmark, redefining the shopping and leisure landscape of Kolkata.

ANAROCK Group, one of India’s foremost independent real estate services firms, has successfully advised Blackstone on its acquisition of South City Mall in Kolkata for a transaction value of Rs 32.5 billion. ANAROCK served as the sole transaction advisor for the landmark deal.South City Mall is widely regarded as a premier retail destination in East India. Spanning more than one million square feet, it houses over 150 international and Indian brands. With an average annual turnover exceeding Rs 18 billion, the mall features the region’s largest food court, a multi-level parking facility for more than 1,250 cars, and attracts significant footfall—ranging from 55,000 to 60,000 daily visitors, which surges to between 75,000 and 200,000 during weekends and festive seasons.Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, commented:“We applaud Blackstone on this acquisition. South City Mall is truly a prized retail asset in a prestigious South Kolkata location. It offers a curated blend of premium lifestyle and retail brands such as Zara, Shoppers Stop, Tommy Hilfiger, Levi’s, Armani, Calvin Klein, The Collective, MAC, and Spencer’s.”Soumendu Chatterjee, Regional Director – Land at ANAROCK Group, added: “We are proud to have advised on this high-profile transaction. This deal underscores ANAROCK’s ability to facilitate complex, high-value transactions and our continued commitment to advising on marquee assets. Under Blackstone’s stewardship, we expect the mall to further strengthen its position as a leading retail destination.”Asheesh Mohta, Head of Real Estate Acquisitions – India at Blackstone, said: “We are excited to invest in this iconic retail asset. South City Mall serves as a community hub and an epicentre for shopping, dining, and entertainment in Kolkata. We aim to build on the South City Group’s legacy and ensure long-term growth, leveraging our scale and retail sector expertise.”Prakash Bachhawat, Director at JB Group, who led the transaction on behalf of South City Projects, stated: “This acquisition is not just a business transaction; it represents a major boost of confidence in Eastern India’s retail market. South City Mall remains an iconic development and we’re proud to partner with a global leader like Blackstone.”Launched in January 2008, South City Mall was developed by a consortium of leading regional developers. It remains a cultural and retail landmark, redefining the shopping and leisure landscape of Kolkata.

Equipment

06 Aug 2026

BKT Unveils Immersive Tyre Installation at Mumbai Airport

Balkrishna Industries (BKT), a global off-highway tyre leader with a growing presence in India's on-highway tyre market, has unveiled a distinctive brand installation at Mumbai International Airport (MIAL)'s T2 elevated road underpass. The initiative, inspired by BKT Tyres' ‘Elevate Your Drive’ philosophy reflects the company's evolution into a broader mobility brand by highlighting its portfolio across agriculture, construction, mining, earthmoving, commercial vehicles, two-wheelers and passenger vehicles. The launch of the installation marks a significant moment as BKT expands its footpr..

Real Estate

06 Aug 2026

Grovy India raises Rs 150 million through preferential issue

BSE-listed Grovy India has raised Rs 150.1 million through a preferential issue of equity shares to support its expansion plans in the South Delhi real estate market.The company's board-approved preferential issue committee allotted 4.17 million equity shares of Rs 10 face value, raising Rs 150.1 million. Following the allotment, the company's paid-up equity share capital has increased to Rs 175.1 million, comprising 17.51 million equity shares.Grovy India said the participation of promoters and investors reflects confidence in its execution capabilities, growth strategy and position in South ..

Infrastructure Energy

06 Aug 2026

K2 Infragen secures BBB- rating for Rs 2 billion facilities

K2 Infragen has secured an ACUITE BBB- rating with a Stable outlook for its long-term bank facilities and an ACUITE A3 rating for its short-term facilities from Acuité Ratings & Research, covering total bank facilities of Rs 2 billion.The rating comprises Rs 1.27 billion of long-term borrowings and Rs 730 million of short-term working capital facilities.According to the rating agency, the investment-grade rating reflects K2 Infragen's business risk profile, revenue growth, execution capabilities and financial discipline. The assessment is also supported by the company's order book, which ..