6 listed REITs, ₹3.17 lakh crore assets: How big is India’s REIT market now?

India’s listed real estate investment trust (REIT) market has expanded significantly, with six publicly traded REITs now managing more than ₹3.17 lakh crore in gross assets under management (AUM). The sector has also crossed 4.85 lakh unitholders, highlighting the growing participation of investors in listed commercial real estate.

REIT payouts

According to data from the Indian REITs Association, the six listed REITs distributed a combined ₹3,136 crore to unitholders during the first quarter of financial year 2026-27. The payout was nearly twice the ₹1,559 crore distributed by four listed REITs in the year-ago quarter.

The six listed REITs are Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, Knowledge Realty Trust and Bagmane Prime Office REIT.

The expansion in the number of listed REITs has contributed to the increase in the sector’s overall scale. Knowledge Realty Trust and Bagmane Prime Office REIT were among the six REITs included in the latest quarterly data.

MUST READ: REIT, InvIT payouts won’t become fully tax-free: Which components will still be taxed?

Gross AUM

As of Q1 FY27, the combined gross AUM of the six REITs stood above ₹3.17 lakh crore. Their combined market capitalisation was more than ₹2.17 lakh crore as of August 11, indicating the substantial size of the listed REIT universe in India.

Together, the six REITs manage more than 214 million square feet of Grade A office and retail assets across the country. These properties provide the underlying rental and operating income that supports distributions to REIT investors.

The portfolio scale also gives investors exposure to multiple commercial properties rather than concentrating their money in a single physical asset. This diversification is one of the key features of the REIT structure.

ALSO READ: REITs aren't debt substitutes, they're equity investments with cash flows: Radhika Gupta

₹34,800 crore distributed

The sector’s cumulative payout also highlights its growth over the years. The six REITs have distributed more than ₹34,800 crore to unitholders since inception. For investors, these distributions are a key attraction because REITs provide exposure to income-generating real estate without requiring individuals to directly purchase and manage commercial properties.

REIT units are traded on stock exchanges, allowing investors to buy and sell exposure to a diversified portfolio of properties. Depending on the structure and cash flows of an individual REIT, distributions to unitholders can comprise different components.

Real estate and markets

The growth of the REIT market also reflects the increasing institutionalisation of commercial real estate investment in India. Instead of requiring investors to commit large amounts of capital to individual properties, the REIT structure allows them to participate in portfolios containing large office and retail assets.

However, REIT distributions should not be viewed in the same way as guaranteed interest from fixed-income products. The amount distributed can vary depending on rental income, occupancy, operating expenses, financing costs and other factors affecting the underlying properties.

MUST SEE: New taxation bill restores dividend tax relief for REIT, InvIT investors despite corporate tax shift; check details

With ₹3.17 lakh crore in gross AUM, ₹2.17 lakh crore in market capitalisation, more than 214 million square feet of assets and over ₹34,800 crore distributed since inception, India’s listed REIT sector has emerged as a significant bridge between the country’s commercial real estate market and capital-market investors.