PropShare Platina REIT Submits Detailed Valuation Report for FY26 Under SEBI Regulations
PropShare Platina REIT has submitted its detailed valuation report for FY26, valuing its Bengaluru commercial property at INR 3,739.96 million. The 246,935 sq.ft. office space at Prestige Tech Platina maintains 100% occupancy with a weighted average lease expiry of 7.68 years. Located on Outer Ring Road, the property benefits from Bengaluru's strong office market fundamentals, with the ORR Southeast corridor showing 3.7% vacancy rates and sustained rental growth driven by GCC demand.
*this image is generated using AI for illustrative purposes only.
Property Share Investment Trust has filed its detailed valuation report for the financial year 2026 with BSE Limited, marking a significant regulatory compliance milestone for the small and medium REIT (SM REIT). The submission, dated April 17, 2026, fulfills requirements under Regulation 26ZJ of the SEBI (Real Estate Investment Trusts) Regulations, 2014.
Property Valuation Overview
The independent valuation, conducted by KZEN VALTECH PRIVATE LIMITED (IBBI/RV-E/05/2022/164), assessed the market value of PropShare Platina's flagship commercial property at INR 3,739.96 million as of March 31, 2026. The valued asset comprises 246,935 sq.ft. of leasable commercial office space spanning six floors (Ground to Fifth) in Building 2 of the Prestige Tech Platina development.
| Parameter | Details |
|---|---|
| Valuation Date | March 31, 2026 |
| Property Value | INR 3,739.96 million |
| Total Leasable Area | 246,935 sq.ft. |
| Location | Outer Ring Road, Kadubeesanahalli, Bengaluru |
| Valuation Method | Income Approach (DCF) |
| Occupancy Rate | 100% |
Strategic Location and Property Details
The subject property is strategically located along Bengaluru's Outer Ring Road (ORR), one of India's premier office corridors. The asset forms part of the larger Prestige Tech Platina complex, which spans approximately 1.19 million sq.ft. across three towers. The REIT's holdings are concentrated in Building 2, encompassing floors from ground level to the fifth floor.
The property benefits from excellent connectivity and infrastructure, with direct access to Outer Ring Road and proximity to major IT hubs including Marathahalli (1.50 km) and Sarjapura junction (4.50 km). The building holds LEED Gold certification, reflecting its commitment to sustainable construction practices.
Market Analysis and Rental Performance
The valuation incorporated comprehensive market research of Bengaluru's office sector, particularly the ORR Southeast micro-market. Current market analysis reveals strong fundamentals with Grade A office stock of 237.9 million sq.ft. citywide and tight vacancy levels of 3.7% in the ORR Southeast corridor.
| Market Metric | ORR Southeast | Bengaluru Overall |
|---|---|---|
| Completed Stock | 77.6 million sq.ft. | 237.9 million sq.ft. |
| Vacancy Rate | 3.7% | 10.6% |
| Average Rent | INR 108.8 per sq.ft./month | INR 101.6 per sq.ft./month |
| Net Absorption (2016-Q1 2026) | 40.1 million sq.ft. | 108.3 million sq.ft. |
Tenancy and Revenue Structure
The property maintains full occupancy with 24/7 Customer Private Limited as the sole tenant across all floors. The lease structure demonstrates stable revenue generation with differentiated rental rates across floors:
- Ground Floor: 34,991 sq.ft. at INR 108.00 per sq.ft./month
- First Floor: 37,075 sq.ft. at INR 100.00 per sq.ft./month
- Second & Third Floors: 43,717 sq.ft. each at INR 100.00 per sq.ft./month
- Fourth Floor: 43,717 sq.ft. at INR 108.00 per sq.ft./month
- Fifth Floor: 43,717 sq.ft. at INR 103.50 per sq.ft./month
The weighted average lease expiry (WALE) stands at 7.68 years, providing long-term cash flow visibility. Rental escalations are structured at 3.85% after the first three years, followed by 15% increases every three years thereafter.
Valuation Methodology and Assumptions
The valuation employed the Income Approach using Discounted Cash Flow methodology over a 10-year projection period. Key assumptions included:
- Market Rent: INR 101.00 per sq.ft./month for Year 1
- Annual Rent Escalation: 5% per annum
- Discount Rate (WACC): 11.75%
- Exit Capitalization Rate: 8.00%
- Perpetual Vacancy Allowance: 2% (post-lease expiry)
The analysis considered Bengaluru's robust demand from Global Capability Centers (GCCs), which account for approximately 42% of India's GCC footprint, supporting sustained rental growth in the micro-market.
Regulatory Compliance and Transparency
The detailed valuation report has been uploaded on the REIT's website at https://www.psreit.in/ , ensuring transparency for unitholders and market participants. The submission demonstrates PropShare Platina's commitment to regulatory compliance under the evolving SEBI framework for small and medium REITs.
The valuation reflects the property's strategic positioning in one of India's most dynamic office markets, supported by strong occupancy, quality tenant profile, and favorable market fundamentals in Bengaluru's technology corridor.
How might the upcoming lease expiry in 7.68 years impact PropShare Platina's rental income, given the current tenant concentration risk with a single occupier?
What expansion plans does PropShare Platina have for acquiring additional properties in Bengaluru's ORR corridor or other prime office markets?
How could the projected 5% annual rent escalation assumption be affected by potential market corrections or economic downturns in India's IT sector?
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