Bagmane Prime Office REIT Eyes Expansion into Chennai and Delhi Amidst IPO Plans
Bagmane Prime Office REIT, backed by Blackstone, intends to expand into Chennai and Delhi markets. The company projects strong revenue and net operating income growth by 2030 and plans to raise Rs 3,405 crore through an IPO on May 5. Currently, it focuses on Bengaluru but sees expansion opportunities elsewhere.
Bagmane Prime Office REIT is set for significant growth, aiming to expand its footprint beyond Bengaluru into Chennai and Delhi, according to CEO Richard Hugh Andrew. The company expects to leverage profitable opportunities in these markets, backed by substantial financial projections.
Currently focused in Bengaluru, Bagmane Prime Office REIT anticipates a net operating income of Rs 2,675.8 crore by FY27, with major contributions from its various technology and business parks. The company also plans to increase its revenue to Rs 4,424.9 crore by FY30.
As part of this ambitious growth trajectory, the firm will launch an IPO on May 5, aiming to raise Rs 3,405 crore. This includes Rs 2,390 crore from issuing fresh units and Rs 1,015 crore from an offer-for-sale by selling unitholders.
(With inputs from agencies.)
- READ MORE ON:
- Bagmane
- Office REIT
- IPO
- Blackstone
- Chennai
- Delhi
- Bengaluru
- real estate
- expansion
- net operating income
ALSO READ
Constable, police mitra injured after being run over by Thar in Delhi's Jahangirpuri
Swiss International Airlines to launch nonstop Bengaluru-Zurich flights from October
Delhi man dies after setting himself on fire outside wife's house in Jahangirpuri
Seven juveniles held for stabbing teen in Delhi over rivalry, trolling
Delhi logs 18 dengue cases till May 16; malaria tally at 33: MCD
Google News