Knowledge Realty Trust To Invest Rs 7,000 mn In Bengaluru

29 May 2026 CW Team

Knowledge Realty Trust will invest Rs 7,000 million (mn) over the next three years to develop 1.4 million (mn) square feet of office space in Bengaluru, the company said. Chief executive officer Shirish Godbole said the trust is seeking prime office acquisitions to support organic growth.

The trust is a real estate investment trust sponsored by Sattva Group and Blackstone. Its total portfolio is 46.5 million (mn) square feet, with 37.2 mn completed, 2.6 mn under construction and 6.6 mn for future development across six cities.

On projects, the company said 1.2 mn square feet is almost complete, while construction has begun on the new 1.4 mn Bengaluru project. The Bengaluru development will be funded through the specified Rs 7,000 mn investment and internal capital. Around 25 per cent of the portfolio is leased below market rent, providing scope for rental growth.

The trust reported a distribution of Rs 7,166 mn for the quarter ended March, taking cumulative distributions since listing in August 2025 to Rs 21.019 billion (bn). Net operating income rose 14 per cent to Rs 10.533 bn in January to March and the full year NOI rose 18 per cent to Rs 40.484 bn for 2025-26. In the quarter, gross leasing was 1.1 mn square feet, taking FY26 leasing to about 3.5 mn and occupancy to 92 per cent.

Godbole said the trust enters the next fiscal with strong operating momentum and visible growth levers, and expects leasing in 2026-27 to be broadly similar to the prior year. The company noted a debt position of Rs 120 bn and said it remains active in the market for acquisitions. The portfolio, with 45 per cent of gross rentals from Global Capability Centres and 31 per cent of value in front office assets, underpins the outlook.

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