Indian Real Estate Deals Soar 3x to $2.3B in Q2: Grant Thornton

New Delhi, Jul 21 (PTI) Indian real estate sector witnessed 39 deals valued at USD 2.3 billion during April-June, a nearly 3-times jump from the preceding quarter, with a rebound in fundraising through public issue and Qualified Institutional Placement (QIP) routes, according to Grant Thornton Bharat.

In its quarterly report 'Real Estate/REITs Dealtracker', the consulting firm highlighted that the overall deal activity, including initial public offerings (IPOs) and QIPs, stood at 39 deals worth USD 2.3 billion during April-June.

Private equity (PE) emerged as the dominant contributor, accounting for half of the total deal value, supported by larger transaction sizes. Public market activity also remained significant.

Elaborating more, Grant Thornton Bharat noted that there were 22 deals in the M&A (merger and acquisition) space worth USD 367 million in April-June, a 10 per cent rise from USD 335 million in the year-ago period.

In the PE and VC space, there were 13 deals valued at USD 1,157 million in the second quarter of this calendar year, a sharp jump from USD 458 million in the same period of the last year.


That apart, the consultancy firm said that the June quarter witnessed two IPOs and two QIPs, valued at USD 381 million and USD 401 million, respectively.

"Public markets witnessed a sharp increase in Q2, 2026, after a subdued previous quarter with two IPOs and two QIPs raising a combined USD 782 million," it added.

Bagmane Prime Office REIT led IPO activity with a USD 355 million issuance, while Brookfield India Real Estate Trust and Bagmane Prime Offices REIT drove QIP fundraising with issuances.

The report highlighted that the largest deal of the quarter was the combined investment of USD 323 million by Mindspace Business Parks REIT and 360 One Alternates Asset Management Ltd in Radial IT Park Ltd (owned by CapitaLand group).

Bhavik Vora, Partner, Grant Thornton Bharat, said, "The quarter reflects growing confidence among institutional investors in India's commercial real estate market."

He said the capital is increasingly flowing towards high-quality, income-generating assets, as reflected in the sharp increase in private equity investments and the revival in REIT and capital market activity.