Bagmane Prime Office REIT has declared an independent portfolio valuation of Rs 41,594 crore as of September 30, 2026. The valuation, conducted by KZEN Valtech, covers major tech parks in Bengaluru and operational solar power assets. Investors should note that while the portfolio is anchored by high-profile tenants like Google, the filing also highlights ongoing litigation regarding property titles and land acquisition that remains sub-judice.
Bagmane Prime Office REIT Reports Portfolio Valuation of Rs 41,594 Crore
The total market value of the REIT assets is Rs 41,594.09 crore. The portfolio includes 19.7 million square feet of leasable area and 164.4 MW of solar capacity.
Reader Takeaway: Strong asset base led by Bengaluru tech parks is balanced against pending land title and acquisition litigation.
What just happened
Bagmane Prime Office REIT has released its independent valuation report for the period ending September 30, 2026. The portfolio consists of six major business parks in Bengaluru, two under-construction hotel projects, and solar power plants located across Karnataka.
Valuation Methodology
KZEN Valtech Private Limited served as the independent valuer. For operational assets, the firm utilized a Discounted Cash Flow (DCF) method, accounting for lease terms and expected rent reversions. For projects currently under development, the valuation model adjusted for future construction cash outflows and anticipated lease-up rates.
Key Market Assumptions
The valuation assumes a terminal capitalization rate of 8.00% for the general portfolio, dropping to 7.75% for high-demand assets such as Bagmane Tech Park and Bagmane Cosmos Business Park. The Weighted Average Cost of Capital (WACC) for completed assets was pegged at 11.50%, while under-construction assets carry a higher risk-adjusted WACC ranging between 12.75% and 15.38%.
Risks to watch
The filing explicitly discloses material litigation involving property titles and land acquisition processes. Specifically, disputes related to Bagmane Tech Park and Bagmane Constellation Business Park are currently pending in the High Court of Karnataka and the Supreme Court of India. These legal challenges could impact future operations or title clarity.
Property Specific Highlights
The REIT’s portfolio hosts major global tenants, with Bagmane Rio Business Park serving as a key hub for Google. Additionally, the integrated solar power plants in Chikkodi, Sedam, Yadgir, and Chitradurga are linked via long-term Power Purchase Agreements with BESCOM, providing a captive energy source for the office parks.