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KRT IPO

Knowledge Realty Trust
Start Date05-08-2025
Application Timing10am-5pm
Price Range₹95 - ₹100
Min Qty150
Min. Investment₹14250
Listing Date18-08-2025
Close Date07-08-2025

About Knowledge Realty Trust

Knowledge Realty Trust is India’s largest office Real Estate Investment Trust (REIT) based on Gross Asset Value (GAV) of Rs. 6,19,989 million as of March 31, 2025. Globally, it ranks as the second-largest office REIT in terms of leasable area. The trust manages a vast portfolio of 30 premium Grade-A office assets, spread across 6 major Indian cities—Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City (Ahmedabad).

These assets include 37.1 million sq. ft. of completed area, 1.2 million sq. ft. under construction, and 8.0 million sq. ft. reserved for future development. The REIT maintains a strong committed occupancy of 91.4%, catering to a diversified tenant base, including Fortune 500 firms, Global Capability Centers (GCCs), and leading Indian corporates. Its assets are known for premium amenities such as food courts, clubs, sports facilities, medical clinics, and more.

Why To Invest in Knowledge Realty Trust

Market Leadership with Pan-India Presence :  Knowledge Realty Trust is the largest office REIT in India based on Gross Asset Value, making it a dominant player in the commercial real estate investment space.
Strong Occupancy with Premium Portfolio : The trust maintains a committed occupancy of 91.4% across 30 Grade-A office properties located in top-tier cities, offering rental stability and quality infrastructure.
Diversified Tenant Profile : Its tenant base includes Fortune 500 companies, Global Capability Centers (GCCs), and top Indian corporates, reducing concentration risk and enhancing cash flow visibility.
Backed by Reputed Sponsors  : Supported by global investment firm Blackstone and leading Indian real estate developer Sattva Group, the REIT benefits from deep industry expertise and operational strength.
Consistent Financial Performance : Despite a 34% decline in PAT, the REIT reported a 16% increase in revenue and a healthy rise in EBITDA, indicating robust operational efficiency.
Affordable Entry Point for Retail Investors : The price band is set between Rs. 95 to Rs. 100 per unit, with a minimum investment of just Rs. 14,250, making it accessible for retail investors.
Reliable Source of Income and Growth : As a REIT, it offers a combination of regular rental income and long-term capital appreciation, making it a balanced investment choice for income-focused investors.

Financial Table
Period Ended 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets24,768.08 24,902.82 24,544.42
Total Income 4,146.86 3,588.48 3,115.97
Profit After Tax 222.52339.66219.24
EBITDA3,293.03 2,830.36 2,494.02
Total Borrowing 19,792.1719,757.5820,226.66
Strengths And Risks
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Market Leadership: Knowledge Realty Trust is the largest office REIT in India by Gross Asset Value (GAV) and Net Operating Income (NOI). It also holds the position of the second-largest office REIT globally in terms of leasable area.
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Strong Geographic Presence: The company’s assets are spread across six major business cities in India Mumbai, Bengaluru, Chennai, Hyderabad, Gurugram, and GIFT City ensuring better risk diversification and tenant access.
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High-Quality Office Assets: All properties are Grade-A with modern infrastructure, multi-cuisine food courts, sports zones, health clinics, and members-only clubs that enhance tenant satisfaction and retention.
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Diversified and Reliable Tenants: The REIT serves a balanced tenant base including Fortune 500 firms, Global Capability Centers (GCCs), and leading Indian corporates, ensuring stable and predictable cash flows.
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Backed by Experienced Sponsors: Knowledge Realty Trust is sponsored by global real estate giant Blackstone and reputed Indian player Sattva Group, bringing both international expertise and local market understanding.
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Consistent Occupancy and Rental Income: With a committed occupancy of 91.4%, the trust benefits from long-term lease agreements and tenant renewals, contributing to consistent income generation.
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Growth-Focused Asset Pipeline: The REIT has a strong growth roadmap with 8 million sq. ft. of area reserved for future development, providing potential upside for long-term investors.
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Decline in Profitability: The company’s Profit After Tax (PAT) dropped by 34% YoY in FY25, which may raise short-term concerns among investors despite rising revenue.
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High Debt Exposure: Total borrowings stand at Rs. 19,792 crore, indicating significant financial leverage that could impact future profitability or flexibility during economic slowdowns.
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Sensitivity to Market Dynamics: The commercial real estate market is sensitive to macroeconomic changes. Any drop in office demand or rental rates may adversely affect income from properties.
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Regulatory and Policy Risks: As a REIT, the company is regulated by SEBI and other government bodies. Changes in REIT regulations, taxation, or real estate laws could impact returns.
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Limited Scope for Capital Gains: Compared to equity investments, REITs offer relatively moderate capital appreciation. Returns are mainly driven by rental income and may not suit high-growth-seeking investors.
FAQs
What is the issue size of the Knowledge Realty Trust REIT IPO? +
What are the IPO opening and closing dates? +
Will the REIT be listed on both BSE and NSE? +
What is the price band for this IPO? +
What is the minimum investment required for retail investors? +

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