PropShare Targets 3-fold Jump in AUM in 4-5 years

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Co to focus on larger realty deals, which are over 300 cr, says CEO

Bengaluru: PropShare, a-tech- enabled commercial real estate investment platform, is expec ting about threefold growth in as sets under management (AUM) to reach 4,000-5,000 crore over the next four-five years.

The company is also looking to accelerate its product develop- ment process and diversify invest- ment offerings by buying larger assets, said its CEO Kunal Moktan. “We will focus on larger deals now, which are upward of ₹300 crore in the commercial real estate space, to drive its growth as opposed to buying smaller assets,” he said.

PropShare currently has AUM of 1,500 crore and it is also evaluating some transactions in office space.

The co currently has AUM of 1,500 cr and it is also evaluating some transactions in office space

“If we do two large deals in a year, we can reach our target faster,” said Moktan. “Properties listed on Proper- ty Share (the company’s tech enabled investment platform) generatece monthly rental in- come with average yields surpassing 8% per annum. These robust rental yields provide investors with a steady income stream, enhancing the attractive- ness of commercial real estate as an investment option.”

The Bengaluru-headquartered company recently acquired phase I of Prestige Tech Platina, a 533,000 square feet Grade A asset in the city, for ₹370 crore. It is the largest property listed on the plat- form to date.

PropShare is raising 500 crore through PropShare Real Estate Fund II (PREF II), the second scheme under its existing category II alternative investment fund (AIF). PREF II will focus exclusively on completed class-A income-genera- ting commercial real estate leased to multinational and blue-chip tenants in the country’s tech hubs.

Source- The Economic Times