NCW Prime Offices Fund Buys Prius Platinum

29 May 2025 CW Team

A Transformed Asset

Spanning 0.3 million square feet, Prius Platinum was initially acquired by the Kotak consortium through the Insolvency and Bankruptcy Code (IBC) process in 2021. Since then, the property has undergone a comprehensive transformation, including significant upgrades, implementation of ESG (Environmental, Social, and Governance) initiatives, and enhanced operational performance. These concerted efforts have successfully led to a notable increase in leasing activity. This transaction marks a significant milestone in NCW’s value-creation strategy and its commitment to sustainability-driven investments.

The property is currently 95 per cent leased, providing a stable rental income. It boasts a weighted average lease expiry (WALE) of five years and in-place lock-in periods, ensuring long-term income stability. The asset's impressive tenant roster includes leading legal, pharmaceutical, and financial institutions from India, alongside other prominent front-office tenants. This acquisition further reinforces PRIME fund’s strategy of investing in high-quality office spaces across India’s prime commercial hubs.

Gaurav Puri, Chief Investment Officer at NCW, commented: “We are excited to acquire Prius Platinum. This rare, institutionally owned asset perfectly aligns with the Prime Offices Fund’s (PRIME) strategy of creating a high quality, sustainable, income-generating portfolio. With India’s commercial real estate sector continuing to show strong fundamentals, this acquisition marks an important milestone in delivering world-class investment solutions for our investors.”

Rahul Chhaparwal, Partner at Kotak Alternate Asset Managers Limited, stated: “We are proud of the journey this asset has undergone — from acquisition through IBC to a complete revival as a state-of-the-art, ESG-compliant commercial hub. This sale is a testament to the strength of our asset management capabilities and our ability to create long-term value for stakeholders through sustainability-focused strategies.”

The Prime Offices Fund (PRIME), managed by the joint venture Nuvama and Cushman & Wakefield Management Private Limited (NCW), has announced the acquisition of Prius Platinum. This premium Grade A office space, located in South Delhi’s Saket District Centre, was purchased from a consortium led by a fund managed by Kotak Alternate Asset Managers Limited.A Transformed AssetSpanning 0.3 million square feet, Prius Platinum was initially acquired by the Kotak consortium through the Insolvency and Bankruptcy Code (IBC) process in 2021. Since then, the property has undergone a comprehensive transformation, including significant upgrades, implementation of ESG (Environmental, Social, and Governance) initiatives, and enhanced operational performance. These concerted efforts have successfully led to a notable increase in leasing activity. This transaction marks a significant milestone in NCW’s value-creation strategy and its commitment to sustainability-driven investments.The property is currently 95 per cent leased, providing a stable rental income. It boasts a weighted average lease expiry (WALE) of five years and in-place lock-in periods, ensuring long-term income stability. The asset's impressive tenant roster includes leading legal, pharmaceutical, and financial institutions from India, alongside other prominent front-office tenants. This acquisition further reinforces PRIME fund’s strategy of investing in high-quality office spaces across India’s prime commercial hubs.Gaurav Puri, Chief Investment Officer at NCW, commented: “We are excited to acquire Prius Platinum. This rare, institutionally owned asset perfectly aligns with the Prime Offices Fund’s (PRIME) strategy of creating a high quality, sustainable, income-generating portfolio. With India’s commercial real estate sector continuing to show strong fundamentals, this acquisition marks an important milestone in delivering world-class investment solutions for our investors.”Rahul Chhaparwal, Partner at Kotak Alternate Asset Managers Limited, stated: “We are proud of the journey this asset has undergone — from acquisition through IBC to a complete revival as a state-of-the-art, ESG-compliant commercial hub. This sale is a testament to the strength of our asset management capabilities and our ability to create long-term value for stakeholders through sustainability-focused strategies.”

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..