Knowledge Realty Trust (“KRT”)

KRT – Key Highlights
Sponsors: Sattva and Blackstone
Portfolio Overview: 48M sq. ft. (37M sq. ft. completed) across 30 Grade A office assets in 6 cities making it India’s most geographically diverse Office REIT. Almost 95% of the value is concentration in Top 3 office markets of India namely Bengaluru, Hyderabad and Mumbai
Largest REIT in India by NOI and GAV / Valuation
Second Largest in Asia by leasable area
High-Quality Portfolio: 90% leased with marquee tenants – 76% MNCs and 45% GCCs.
Key Assets in the portfolio: 30 Grade A office parks
Sattva Knowledge City – 7.3 mn sft
Sattva Knowledge Park – 3.3 mn sft
One BKC – 0.7mn sft
Image Tower – 400 feet tall Iconic Structure under construction Business Park in the Hitech City of Hyderabad (a PPP based model with the Telangana State Government)
Sattva Global City –12.3 mn sq feet (Spread across 71.2 acres)
One International Centre – 1.8 mn sft
One Unity Centre – 1.0 mn sft
One World Centre – 1.7 mn sft
Cessna Business Park – 4.2 mn sft & others
Sattva Softzone – 1.0 mn sq feet
Financial Strength:
NOI Growth: 18% projected CAGR (FY25-27)
MTM Potential: 15% upside
Low LTV with strong ROFO pipeline (7M sq. ft. across 4 assets identified for growth).
WALE: 8.6 years (long-term lease stability)
Sustainability Focus: 63MW solar power, green buildings, waste recycling, energy efficiency.
Blackstone Partnership: Continued confidence post Embassy, Mindspace & Nexus REIT success. This will be the 5th public listing of Blackstone India Real Estate business post 3 REITs and 1 C-Corporation (Ventive Hospitality)

Sattva Group: Sattva Developers Private Limited brings over three decades of real estate excellence, having constructed 74 million square feet across 7 Indian cities in commercial, residential, co-living, co-working, hospitality, and data center sectors. With an additional 75 million square feet in planning and implementation, Sattva’s quality has been recognized through awards like ET Best Realty Brand 2024 and the IGBC Green Champion Award, complemented by its upgraded CRISIL ‘A+/Stable’ rating since 2022. This established national player represents the next generation of India’s premium real estate development.
Brand neutral strategy to grow inorganically through third party acquisitions
Strong fundamentals in India
India is fastest growing major economy with stable interest rates
India is the GCC capital of the world – 58% share in Global outsourcing market
Cost advantage, Stem talent, Skilled talent pool, English speaking young population
Significant cost arbitrage v/s global commercial hubs
Robust demand for Grade A office space to outpace supply. 82 mn sft CY24.
Key personnel:
CEO – Shirish Godbole, Former Morgan Stanley, Goldman Sachs
COO – Quaiser Parvez, Former CEO Nucleus Office Parks
Sponsor Board members – Blackstone – Tuhin Parikh
Sattva Group – Bijay Agarwal and Shivam Agarwal