Tata, Shapoorji looking to build strong portfolio of commercial properties

Embassy-Blackstone JV is gearing up to float the country's first Reit and raise $1 bn

The Tata and Shapoorji Pallonji groups, two of the country’s oldest conglomerates, are looking at building a strong portfolio of commercial properties with their partners at a time when global fund managers like Blackstone and Brookfield have pumped billions of dollars into such properties.

Tata Realty and Infrastructure (TRIL), the real estate and infrastructure arm of the Tata group, has a portfolio of 19-20 million square feet (sq ft) of commercial projects, including IT parks and special economic zones, both developed and under construction. The company is eyeing doubling the portfolio size in the next four to five years, sources in