EAAA India Alternatives Aims for 4x Growth in Real Estate Portfolio
EAAA India Alternatives plans to quadruple its real estate portfolio to 9-10 million sq ft in three years, following the acquisition of three office assets in Gurgaon and Bengaluru.
Real EstateEaaa India AlternativesCommercial Real EstateWarehousingStudent HousingReal EstateOct 07, 2025
Subahoo Chordia, CEO of EAAA Alternatives, explained the company's strategy: “We are looking to acquire office buildings that can be upgraded and can command a premium rental. There is a significant demand-supply gap in commercial real estate, and with the growing demand from Global Capability Centers (GCCs), the need for Grade A offices will continue to rise.”
EAAA Alternatives focuses on acquiring, operating, and managing high-quality infrastructure assets with low counterparty risk, long residual tenures, and low operating costs. The fund currently manages assets worth approximately $3.5 billion across various sectors, including highways, renewables, power transmission, commercial real estate, and energy transition.
Chordia highlighted the concentration of Grade A offices in a few key cities: “India has never been able to develop more than six cities where education and infrastructure are good. Hence, Grade A offices are concentrated only in those cities, and each of these cities has a different talent pool depending on the educational institutions in the city, which are the drivers of office markets.”
The fund has already acquired a 700,000 sq ft building in Gurgaon, a 1.4 million sq ft complex in Bengaluru, and is close to finalizing another 500,000 sq ft transaction. Chordia noted that after acquiring these buildings, the company overhauls them to enhance their value and appeal to tenants: “Once we take over the building, we overhaul it completely, and tenants are also willing to pay for the upgraded facility. With the IT sector leasing not growing much, the office market has become more diversified and more viable from a long-term perspective.”
Looking ahead, EAAA Alternatives sees significant opportunities in the warehousing sector. Chordia stated: “The second asset class that will grow, and which we are actively exploring, is warehousing. Unlike offices, where the location must be within the city, warehouses can be set up anywhere. It has a lower increase in rent compared to offices but is a growing segment.”
The company is open to greenfield projects in warehousing if it is unable to find a suitable portfolio in the next 12-18 months. Additionally, EAAA is evaluating opportunities in student housing and data centers. Chordia added: “Student housing is another segment that will grow at a fast pace as the government is also giving it a lot of push. We are evaluating some data center projects as well, and with everything on track, we should reach the target of 9-10 million sq ft in three years.”
EAAA was managing Rs 62,970 crore in assets as of the quarter ended June 2025. The company's strategy is aligned with the significant real asset opportunity in India, with an estimated $2-3 trillion worth of properties required by 2035. This makes India’s real asset market the largest untapped investment theme of the decade.
Frequently Asked Questions
What is EAAA India Alternatives' current real estate portfolio size?
EAAA India Alternatives currently manages around 2.5 million square feet of real estate assets.
What is the target for EAAA India Alternatives' real estate portfolio in three years?
EAAA India Alternatives aims to quadruple its real estate portfolio to 9-10 million square feet in the next three years.
What are the key cities where Grade A offices are concentrated in India?
Grade A offices are concentrated in cities where education and infrastructure are good, typically around six key cities in India.
What other asset classes is EAAA India Alternatives exploring besides office buildings?
EAAA India Alternatives is exploring opportunities in warehousing, data centers, and student housing.
How much is the estimated real asset opportunity in India by 2035?
The estimated real asset opportunity in India by 2035 is around $2-3 trillion worth of properties.
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