In its report ‘Real Estate Q2 2025 Dealtracker’, Grant Thornton Bharat said the number of deals has increased in the January-June period, but the overall value has dropped.
The real estate deals include Initial Public Offering (IPO) and Qualified Institutional Placement (QIP).
“In the first half of the year, the Indian real estate sector recorded 45 transactions, including IPO and QIP, valued at USD 2.5 billion, compared to 40 deals worth USD 2.7 billion in H1 2024. While volume increased year-on-year, the overall deal value dropped by 8 per cent,” Shabala Shinde, Partner and Real Estate Industry Leader at Grant Thornton Bharat, said.
She noted that the data for the first half of this year reflects a sector recalibrating for long-term strength.
“While overall deal values moderated, institutional capital continues to flow steadily into commercial platforms, reinforcing the asset class’ resilience. The return of IPO and SME REIT activity, alongside anticipation of India’s largest REIT, signals that capital markets are gearing up to play a larger role in driving real estate growth,” Shinde said. In the second half of 2025, she said the sector is well-positioned for a more mature, innovation-led cycle of investment.
During the second quarter of this calendar year, the data showed 17 transactions worth USD 1.3 billion, including IPOs and QIPs. PTI
