Curation Team
EAAA India Alternatives Ltd, formerly Edelweiss Alternatives, plans to quadruple its real estate portfolio to 9–10 million sq ft in three years from 2.5 million sq ft, after acquiring three office assets worth Rs 3,000 crore in Gurgaon and Bengaluru, and eyeing further expansion into warehousing, data centres, and student housing, a senior executive said.
“We are looking to acquire office buildings that can be upgraded and can command a premium rental. There is a demand-supply gap in commercial real estate, and with the way demand from GCCs is growing, the demand for Grade A offices will further increase,” said Subahoo Chordia, CEO of EAAA Alternatives.
The fund’s business strategy focuses on acquiring, operating, and managing high-quality infrastructure assets with low counterparty risk, long residual tenures, and low operating costs.
Currently, EAAA Alternatives manages assets of approximately $3.5 billion across highways, renewables, power transmission, commercial real estate, and energy transition.
“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,” said Chordia.
The fund has bought a 700,000 sq ft building in Gurgaon, another 1.4 million sq ft complex in Bengaluru, and the transaction for another 500,000 sq ft is on the verge of completion.
“Once we take over the building, we overhaul it completely, and tenants are also willing to pay for the upgraded facility. With IT sector leasing not growing much, the office market has become more diversified and more viable from a long-term perspective,” the executive said.
The firm said that with $2–3 trillion worth of properties required by 2035, India’s real asset opportunity is the largest untapped investment theme of this decade.
“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,” Chordia said.
The fund is open to greenfield projects in warehousing if it is unable to get a portfolio of its liking in 12–18 months.
“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 centre projects as well, and with everything on track, we should reach the target of 9–10 million sq ft in three years,” the executive said.
EAAA was managing Rs 62,970 crore in assets as of the quarter ended June 2025.
