DRA Group and Balajadia Family Launch $100 Million Real Estate Platform in South India
DRA Group and the Balajadia family from the Philippines have formed a $100 million real estate platform, targeting office and retail assets in South India, initially focusing on developments in Chennai and Bengaluru.
Real EstateSouth IndiaDra GroupBalajadia FamilyInvestmentReal Estate NewsAug 08, 2025
The platform, which will be owned equally by both partners, marks the debut of a Filipino company in India’s thriving realty market. It will initially focus on Grade A commercial and retail developments in Chennai and Bengaluru.
The first project—a 60,000 sq ft retail centre in Chennai’s OMR corridor—is currently underway at an investment of $10 million. Another upcoming project is a 1.6-acre commercial centre in Chennai.
The platform has set a medium-term development target of over 1 million sq ft, with assets ranging from core central business district (CBD) plots to growth locations in suburban areas. The portfolio will comprise 70% commercial and 30% retail assets across Chennai and Bengaluru.
“The platform allows us to take a programmatic approach to both greenfield and value-add commercial projects, while de-risking through tenant pre-leasing and asset-backed capital deployment over the next three years,” said Ranjeeth Rathod, managing director, DRA Group.
For DRA Group, known for residential and mixed-use townships, the platform marks a shift into institutional-grade commercial and retail real estate. As part of the platform strategy, DRA plans to acquire 1.5–2 acre land parcels in high-absorption micro-markets having strong infrastructure.
“This is not a one-off investment—it is a long-term platform play aimed at building institutional quality assets with strong yield visibility,” said Rathod.
The Balajadia family, headquartered in the Philippines, is among Southeast Asia’s most active private investors with interests across pharma, healthcare, and real estate. Known for building operating platforms across emerging markets, the family’s entry into the Indian realty market is part of a larger strategy to deploy patient capital into asset-backed, cash-yielding platforms.
“This partnership goes beyond brick and mortar – it’s about building long-term value across borders by blending market insight, cultural understanding, and capital strength,” said Dr Lloyd Balajadia of the Balajadia family, who is also the president of Lloyd Laboratories in the Philippines. “We look forward to not only creating landmark developments in India but also welcoming future collaborations that bring Indian expertise to the Philippines in time.”
Experts say the development reflects a broader trend of Southeast Asian capital sharpening focus on the Indian real estate sector as yields compress in developed markets. In their home market, the family is associated with Lloyd Laboratories, a pharmaceutical company that operates as a contract toll manufacturer for several pharmaceutical traders and companies in the country.
“We are looking to create long-term rental yield assets to be monetised through a REIT listing or strategic asset exit in the next 5-7 years with a rental income of over Rs 250 crore,” said Rathod.
Separately, DRA Group plans to have projects with gross development value of over Rs 6,500 crore by March 2027. The firm has 3.9 million sq ft projects under development with an additional 1.9 million sq ft of land tied up over the last few quarters.
The portfolio mix is expected to lean 75% towards residential and the rest towards commercial. The company is also exploring new city entries, with Pune on the radar for the next phase of expansion.
Frequently Asked Questions
What is the total investment for the real estate platform?
The total investment for the real estate platform is $100 million (about Rs 876 crore).
Which cities are the initial focus of the platform?
The initial focus of the platform is on developments in Chennai and Bengaluru.
What is the first project of the platform?
The first project is a 60,000 sq ft retail centre in Chennai’s OMR corridor, with an investment of $10 million.
What is the medium-term development target of the platform?
The medium-term development target is over 1 million sq ft, with assets ranging from core central business district (CBD) plots to growth locations in suburban areas.
What is the portfolio mix of the platform?
The portfolio will comprise 70% commercial and 30% retail assets across Chennai and Bengaluru.
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