Bengaluru-based Assetz Property Group, one of India’s fastest growing real estate developers, is planning to launch its IPO in the next 1 year to consolidate its position and expand beyond Bengaluru. The announcement comes at a time when the company has not only become a strong mid-to-premium housing player in Bengaluru but is also looking at new growth corridors in Mumbai Metropolitan Region (MMR), Hyderabad and Pune.
Strong Track Record and Presence
Founded with a focus on design led and sustainable developments, Assetz Property Group has grown to be one of the top 5 developers in Bengaluru. Over the last 10 years, the company has built a portfolio of 45 million sqft across 25,000+ residential units and delivered 15 million sqft of residential and commercial projects.
The company has 4% market share in Bengaluru and plans to double it to 8% by FY30 with cumulative pre-sales of INR 30,000 cr in that period. With a 30 million sqft land bank valued at INR 30,000-35,000 cr, Assetz Property Group has been strengthening its base. Recent acquisitions like 11.5 acres on Old Madras Road in East Bengaluru for a luxury project worth INR 1,400 cr and a premium INR 1,000 cr project in North Bengaluru with KVN Properties show its aggressive yet calculated approach.
Growth Momentum and Financial Performance
Assetz’s performance in recent years has been nothing short of remarkable. Over the past five to six years, the developer has delivered a 35% compound annual growth rate (CAGR).
- In Q1 FY26, it clocked over INR 1,000 crore in pre-sales.
- For FY26, the company is targeting INR 4,200 crore in pre-sales with an inventory of around INR 7,000–7,500 crore.
- By FY27, pre-sales are expected to rise to nearly INR 6,000 crore, supported by an average selling price (ASP) increase from INR 10,000 per sq ft in FY25 to INR 11,000+ in FY26.
- Operating margins remain healthy at 25–30%, with debt contained at about INR 350 crore, less than 10% of operating surplus from ongoing projects.
Executive Director Sunil Pareek emphasized that the company has tied up 550 acres and a pipeline of 45 million square feet, of which nearly 60% comes via joint development agreements (JDAs). “We plan to launch 9 million square feet this year and expand further with a 30%-plus CAGR ahead,” Pareek said.
Market Differentiation: Design and Efficiency
Chief Executive Officer Akshay Dewani highlighted Assetz’s differentiated strategy, which he described as being “distinct by design.”
The company’s projects cater largely to the INR 1.5–3 crore segment, representing nearly 65–70% of Bengaluru’s housing market. With carpet area efficiencies of 73%, significantly above the market average of 69%, Assetz Property Group positions itself as a developer that delivers value through design and functionality.
“Design and efficiency are what set us apart. It allows us to capture demand shifts while maintaining relevance across market cycles,” Dewani explained.
Capital Partnerships and Governance Framework
Assetz’s rise has been supported by institutional capital and a strong governance framework. Key investors include AGP Partners, J.P. Morgan, Aditya Birla Capital, Motilal Oswal Alternates, and HDFC Ltd. The company has raised and repaid over INR 1,000 crore across projects, reinforcing its credibility among financial institutions.
Its Development Management Agreement with KVN Properties for a INR 1,000 crore premium residential project in North Bengaluru further strengthens its institutional-style ecosystem. “Our capital-light model with governance-first principles makes us IPO-ready,” Pareek noted.
The IPO Ambition
Assetz’s IPO ambition comes at a strategic inflection point. The company is already “IPO ready,” according to CEO Dewani, and plans to go public within the next one year. The listing would provide Assetz not just with fresh capital for expansion but also with the credibility boost necessary to compete with larger, listed peers in the real estate sector. Over the next 5 years, the company plans to get to #1 or #2 in Bengaluru and enter 2 more cities beyond its home market and consolidate in those markets over the next 5 years.
Technology and Sustainability Push
In addition to geographical expansion, Assetz is also investing in technology transformation and sustainability initiatives. Dewani said the company will be AI enabled in 2 years, with pilots already running in marketing, HR and construction including drone based updates. This dual focus on tech adoption and sustainable practices is in line with industry trends and buyer expectations in India’s urban housing market.
Outlook
As Bengaluru’s residential market—already valued at INR 1 lakh crore in annual sales—grows, Assetz Property seems to be well placed to get a bigger piece of the pie. With its design led approach, disciplined financials and aggressive expansion plan, the IPO will be a big milestone not just for the company but also for the next phase of Indian real estate.
The next year will be critical as Assetz balances its growth ambitions with operational discipline and governance standards that public markets will demand. If executed well, the IPO will make Assetz a national player in premium housing with Bengaluru as the launchpad for pan India success. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription, stay tuned to IPO Central.