Property Share Investment Trust

What Property Share Investment Trust does

Property Share Investment Trust (PSIT) is India's first registered Small and Medium REIT, established under SEBI Regulation 26L(1) on August 5, 2024 (registration number IN/SM-REIT/24-25/0001). The trust provides high-net-worth individuals and institutional investors direct access to institutional-quality Grade A+ commercial office properties through a series of single-asset schemes, each separately listed on the BSE. As of April 2026, PSIT operates three schemes: PropShare Platina (Bangalore, listed December 2024), PropShare Titania (Thane/Mumbai, listed August 2025), and PropShare Celestia (Ahmedabad, listed April 2026), collectively representing approximately Rs 1,070 crore in aggregate raises and 891,746 sq.ft of leasable area with 100% occupancy maintained across all properties.

The underlying technology is a REIT infrastructure platform supporting multiple scheme management, with PropShare Investment Manager Private Limited acting as Investment Manager and Axis Trustee Services Limited as Trustee. Each scheme holds a single completed revenue-generating Grade A+ property on long-term leases with rent escalation clauses. Tenant base spans US-based Indian tech companies (Platina — a US-based Indian tech company offering AI-led customer services solutions on a 9-year lease), Fortune 500 multinationals including Concentrix and Aditya Birla Capital (Titania), and listed co-working operators including Smartworks and EFC Limited (Celestia). Properties carry premium sustainability certifications — IGBC Platinum (Celestia), LEED Platinum O&M, WELL Health and Safety Rating, and BEE 5-Star (Titania) — supporting tenant quality and long-term asset value.

Revenue mechanics operate on a trust-rental-income model: rental income flows from corporate tenants through to unitholders at projected distribution yields of 8.4%–9.0%. PSIT's own revenue from operations was Rs 4.66 crore in FY25 with a reported loss of Rs 20.01 crore. Distribution is through BSE-listed IPOs at minimum lot sizes of Rs 10–10.5 lakh, supported by tier-1 merchant bankers (ICICI Securities, Kotak Mahindra Capital, Ambit), investor webinars, and regulatory disclosures. The go-to-market targets HNIs and institutional investors across India with a single-country geographic footprint, and the trust structure is designed for repeatable multi-scheme issuance to scale AUM over time.

Name

Property Share Investment Trust

Legal name

Property Share Investment Trust

Website

https://psreit.in

Company type

Private

Founded year

2024

Operating status

Operating

Short description

Property Share Investment Trust is India's first SEBI-registered Small and Medium REIT, offering HNI and institutional investors direct access to single-asset Grade A+ commercial office properties across Bangalore, Mumbai, and Ahmedabad through BSE-listed schemes with projected distribution yields of 8.4%-9.0%.

Ownership category

akta.pro rank

Product category

Small and Medium REIT (Real Estate Investment Trust)

NAICS

Trusts, Estates, and Agency Accounts (52592), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Corporate & Institutional Trust Services (FSAAANAB)

akta.pro secondary industry

Corporate Trust Services (Trustee, Agent & Escrow Roles) (FSAEAKAB)

Keywords

• Small medium REIT
• Commercial real estate
• REIT scheme investment
• Office property investment
• Asset management services

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others, Infrastructure

Revenue model

1. Rental Income from Commercial Properties: PSIT generates revenue through rental income from completed and revenue-generating Grade A+ office properties acquired through its schemes. Each scheme is a separate investment vehicle owning specific properties. Tenants include tech companies, Fortune 500 companies, and co-working operators on long-term leases with rent escalation clauses.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Property Share Investment Trust (PSIT) operates as India's first SEBI-registered Small and Medium REIT, offering single-asset investment schemes that provide individual and institutional investors direct access to completed, revenue-generating Grade A+ commercial office properties. Each scheme (PropShare Platina, PropShare Titania, PropShare Celestia) is a distinct investment vehicle that acquires a specific commercial property, lists units on BSE via IPO, and generates rental income distributed to unitholders with projected yields of 8.4%-9.0%.

Product overview

Property Share Investment Trust (PSIT) is India's first registered Small and Medium REIT, offering three distinct single-asset investment schemes (PropShare Platina, PropShare Titania, and PropShare Celestia) that provide individual investors direct access to institutional-quality Grade A+ office properties in prime micro-markets. Each scheme represents a separate property investment with focused single-asset approach, delivering differential risk-adjusted returns through projected distribution yields ranging from 8.4% to 9.0%.

Differentiator

Problem solved

Functional benefit

Products and services

• PropShare Platina (PSPLATINA) First SM REIT scheme and India's first listed SM REIT, focused on a Grade A office property (Prestige Tech Platina) on Outer Ring Road, Bangalore, with 246,935 sq.ft fully leased to a US-based Indian tech company on a 9-year lease at Rs 103.2/sq.ft, offering projected yield of 9.0%.
• PropShare Titania (PSTITANIA) Second SM REIT scheme investing in a Grade A+ commercial office property (G Corp Tech Park) in Thane, Mumbai Metropolitan Region, with 437,973 sq.ft across six floors leased to Fortune 500 companies and MNCs including Aditya Birla Capital and Concentrix, offering projected yield of 9.0% for FY26. Property has LEED Platinum, WELL Health and Safety, and BEE 5-Star certifications.
• PropShare Celestia (PSCELESTIA) Third SM REIT scheme focused on a Grade A+ IGBC Platinum-certified commercial office property (Stratum @ Venus Grounds) in Nehru Nagar, Ahmedabad, spanning 207,838 sq.ft across seven floors with 100% occupancy and tenants including Smartworks Coworking Spaces, EFC Limited, and Paragraph Khajanchi Business Centre. Features sustainability infrastructure including 130kW solar panels, rainwater harvesting, and EV charging.

Quantifiable outcome

• Projected distribution yields of 8.4%-9.0%
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core, major and supporting.

• Axis Trustee Services LimitedcoreOthersAxis Trustee Services Limited serves as the Trustee for Property Share Investment Trust, responsible for overseeing the Trust's operations and protecting unitholder interests as required under SEBI REIT Regulations.
• PropShare Investment Manager Private LimitedcoreStrategic or Co-development PartnerPropShare Investment Manager Private Limited is the Investment Manager to Property Share Investment Trust, managing the Trust and its schemes. It is the manager responsible for investment decisions, asset management, and REIT operations. Located at 10th Floor, SKAV Seethalakshmi, Bangalore.
• ICICI SecuritiesmajorImplementation/ SI/ Consulting PartnerICICI Securities served as the lead merchant banker for PropShare Platina IPO, hosting live webinar to discuss SM REITs and scheme details. Hosted property webinar with co-founder Kunal Moktan.
• Kotak Mahindra Capital Company LimitedmajorImplementation/ SI/ Consulting PartnerKotak Mahindra Capital Company Limited served as the lead manager for PropShare Titania IPO, hosting Q&A webinar together with PropShare Investment Manager Private Limited.
• Ambit Pvt LtdmajorImplementation/ SI/ Consulting PartnerAmbit Pvt Ltd served as the merchant banker for PropShare Celestia IPO, hosting live Q&A webinar with participation from PropShare Investment Manager.
• Trustee (unspecified)coreOthersUnspecified trustee partner listed in the 'Our partners' section of the website, providing trustee services to the Trust.
• Tax AdvisorsupportingOthersTax advisory partner listed in the 'Our partners' section, providing tax guidance for REIT operations and investor distributions.
• Legal PartnersupportingOthersLegal partner listed in the 'Our partners' section, providing legal support for REIT operations and compliance.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Others

• DLF Limited: India's largest listed real estate developer with significant Grade A office and residential exposure. Comparable as a major Indian commercial real estate operator and potential acquisition counter-party for PSIT's future schemes, but operates as a developer rather than a REIT/listed trust.
• Brigade Enterprises: Listed Indian real estate developer with commercial office leasing and development operations across Bengaluru and other major cities. Comparable as a Grade A commercial real estate player in PSIT's target micro-markets and as a potential seller/transaction counter-party, but operates as a developer rather than a REIT.
• Prestige Group: Major Indian real estate developer and the seller of Prestige Tech Platina (the asset acquired by PropShare Platina). Comparable as a major Indian commercial real estate player and as a transaction counter-party in PSIT's deal pipeline, but operates as a developer/owner rather than a REIT sponsor.

Direct peers

• Mindspace Business Parks REIT: SEBI-listed REIT investing in Grade A office business parks across Indian micro-markets including Hyderabad, Mumbai, Pune, and Bengaluru. Directly comparable to PSIT's office REIT focus, with a similar leased-to-multinational tenant base; differs in scale and multi-asset versus single-asset structure.
• Embassy Office Parks REIT: India's first listed REIT, holding a large portfolio of Grade A office properties leased to multinational corporates. Comparable to PSIT as a SEBI-registered REIT focused on commercial office assets, though at much larger scale and with diversified multi-asset schemes versus PSIT's single-asset model.
• Nexus Select Trust: India's first listed retail REIT, holding consumption-driven mall assets across major Indian cities. Comparable as a SEBI-listed Indian REIT structure delivering yield-style distributions to investors, but operates in retail rather than office and operates a multi-asset portfolio versus PSIT's single-asset schemes.
• Knowledge Realty Trust: Newly listed Indian REIT focused on Grade A office properties in India, providing the most direct product-category overlap with PSIT's office-led SM REIT offering. Comparable in office-only mandate and Indian SEBI REIT regulatory framework; differs in scale and traditional (non-SM REIT) structure.
• Brookfield India Real Estate Trust: Brookfield-sponsored SEBI-listed REIT with a portfolio of Grade A office assets across major Indian cities. Closest large-cap peer to PSIT given the office-only, India-focused mandate and the institutional management pedigree (Blackstone/Brookstone lineage), though substantially larger and diversified across multiple assets.

Broad incumbents

• IRB InvIT Fund: SEBI-listed InvIT holding toll-road and highway infrastructure assets. Comparable to PSIT in being a SEBI-regulated, listed, yield-oriented pooled trust structure offering distributions to unitholders, though operating in infrastructure rather than commercial real estate.
• IndiGrid Infrastructure Trust: India's first listed infrastructure investment trust (InvIT) operating power transmission assets. Comparable as a SEBI-regulated, listed, yield-distributing pooled investment vehicle with institutional and retail unit-holders, but in infrastructure rather than commercial real estate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Property Share Investment Trust