Real estate market sees 28 deals worth $1.2 billion in Jan-Mar: Report

Indian real estate market witnessed 28 deals valued at $1.2 billion in January-March this year led by private equity transactions, according to Grant Thornton Bharat.

Consultancy firm Grant Thornton Bharat on Monday released a report 'Real Estate/REITs Dealtracker-Providing M&A and PE deal insights'.

"In Q1 (January-March) 2025, the Indian real estate markets recorded 28 deals valued at $1.2 billion, marking a whopping 133 per cent growth in volumes and an over five-fold increase in values over Q1 2024 even after muted IPO and QIP activity, reflecting sustained investor interest," the report said.

As per the data, there were 11 deals in M&A (merger & acquisition) space worth $137 million. 

 

In PE/VC (private equity and venture capital) activity, there were 17 deals for $1,050 million.

The first quarter of 2025 witnessed muted IPO (initial public offering) and QIP (Qualified Institutional Placement) activity.

Shabala Shinde, Partner & Real Estate Leader, Grant Thornton Bharat, said, "2025 for the Indian real estate sector began with a significant uptick in overall deal activity, recording 28 transactions totalling $1.2 billion. This represents a significant growth of 47 per cent in volumes while over 51 per cent decline in values compared to Q4 2024, which had seen a surge in capital markets (IPO and QIP) led transactions".

While no IPOs or QIPs were recorded during the March quarter, she said the emergence of small and medium REITs (SM REITs) continues to gain ground.

"With four registrations and one listing, this segment is poised to open up capital markets access to a wider base of developers and investors, particularly in commercial and retail assets," Shinde said.