PropShare Titania Files FY26 Audit Report, Valuation Report, Unitholding Pattern
PropShare Titania has declared an unmodified opinion in its audit report for the financial year ended March 31, 2026. The trust previously submitted its detailed valuation report valuing G Corp Tech Park at INR 4,986.27 million and filed its Q4FY26 unitholding pattern showing 94.98% public holding across 4,462 outstanding units.
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PropShare Titania , the second scheme of Property Share Investment Trust, has declared that its Statutory Auditors have not expressed any modified opinion in the Audit Reports for the financial year ended March 31, 2026. This declaration was submitted to BSE Limited on April 17, 2026, and was digitally signed by Prashant Kataria, Compliance Officer.
Valuation Report and Property Details
The trust had previously submitted its Detailed Valuation Report for the year ended March 31, 2026, to BSE Limited in compliance with Regulation 26ZJ of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. The valuation report covers IT Park office space located on six floors (Floors 5 (part), 7, 9, 11, 12, and 13) in G Corp Tech Park, situated at Ghodbunder Road, Thane, Maharashtra.
| Parameter | Details |
|---|---|
| Total Leasable Area | 4,37,973 sq. ft. |
| Property Type | IT Office Development |
| Age of Building | ~16 years |
| Occupancy Rate | 100% |
| Number of Tenants | 11 unique tenants |
| Current Weighted Average Rent | INR 78.70 per sq. ft. per month |
| Market/Marginal Rent | INR 79.50 per sq. ft. per month |
The valuation was conducted by KZEN Valtech Private Limited using the Income Approach, specifically the Discounted Cash Flow Method. The Valuer has estimated the Market Value of the complete rights and interests in the Subject Property as INR 4,986.27 million as of March 31, 2026.
Financial Assumptions
| Financial Parameter | Value |
|---|---|
| Exit Cap Rate | 8.25% |
| Discount Rate / WACC | 12.50% |
| Market Rent Growth | 5% per annum |
| Vacancy Allowance | 2% of Base Rent |
Unitholding Pattern for Q4FY26
The unitholding pattern disclosure for the quarter ended March 31, 2026, reveals a total of 4,462 outstanding units. The Sponsor and Sponsor Group hold 224 units, representing 5.02% of the total outstanding units, with 100% of these units mandatorily held. Public holding constitutes 4,238 units, accounting for 94.98% of the total outstanding units.
| Category | Units Held | % of Total Outstanding |
|---|---|---|
| Sponsor & Sponsor Group | 224 | 5.02% |
| Public Holding - Individuals | 2,860 | 64.10% |
| Public Holding - Bodies Corporate | 1,245 | 27.90% |
| Public Holding - Non-Resident Indians | 109 | 2.44% |
| Public Holding - Trusts | 24 | 0.54% |
| Total Outstanding Units | 4,462 | 100.00% |
Regulatory Compliance
Both the Detailed Valuation Report, unitholding pattern, and audit report declaration have been submitted to BSE Limited and are available on the trust's website at https://www.psreit.in/ for stakeholder reference. The submissions ensure proper adherence to SEBI disclosure norms and regulatory requirements.
How might the 16-year age of the IT Park building impact future capital expenditure requirements and rental competitiveness in the Thane market?
Will PropShare Titania consider expanding its portfolio beyond the single property in Thane to diversify geographic and tenant concentration risks?
How sustainable is the current 100% occupancy rate given the evolving work-from-home trends and changing office space demands in the IT sector?
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