Real estate deal value triples to $2.3 bn in Q2

New Delhi: Indian real estate sector witnessed 39 deals valued at $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 $ 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 $367 million in April-June, a 10 per cent rise from $335 million in the year-ago period. In the PE and VC space, there were 13 deals valued at $1,157 million in the second quarter of this calendar year, a sharp jump from $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 $381 million and $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 $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.”