The company said in the retail segment, it will be a mix of big and small, with a huge destination mall in Hyderabad and two smaller ones as a part of its townships in Bengaluru, to begin with.
The company eyes a rental revenue of Rs 700 crore with the upcoming developments. In FY25 the company plans to add 2 msf of managed working spaces with a potential revenue of Rs 1,000 crore in Bengaluru.
As of March 2023, Bengaluru recorded 12.9 msf flexible stock, the highest among all major APAC cities. Delhi NCR has emerged as the third-largest, overtaking Beijing and Seoul, with a stock of 8.4 msf, real-estate consultant CBRE said.