Property Share, India’s first and only SM REIT investment manager with listed assets, has announced that its 3 listed SM REIT schemes have collectively distributed over ₹68 crores to unitholders till date. The announcement comes ahead of Property Share’s 4^th SM REIT scheme launch and reflects growing investor interest in regulated, yield-generating commercial real estate investment products.

Property Share became the first entity in India to receive an SM REIT license from SEBI in Aug’24 and remains the only platform in the country to have successfully listed SM REIT schemes so far. Since listing India’s first SM REIT scheme – PropShare Platina in December 2024 for ₹353 crore, Property Share has tripled its REIT AUM to ₹1,070 crore, with 3 listed SM REIT schemes collectively acquiring and owning a diversified portfolio of c. 1 million square feet of Grade A+ commercial office assets across Bengaluru, Mumbai and Ahmedabad.

Property Share pioneered the SM REIT market in India and currently accounts for all listed SM REIT schemes in the country, positioning it at the forefront of the country’s fast growing listed real estate investment market.

• PropShare Platina: India’s 1^st SM REIT scheme that listed on BSE in Dec’24 owns 0.28 mn sf. of a Grade A+ office asset in Bengaluru’s ORR market and has distributed c. ₹40.6 crore to investors since inception, delivering an average pre-tax distribution yield of c. 8.8%.

• PropShare Titania: India’s 2^nd SM REIT scheme that listed on BSE in Aug’25 owns 0.45 mn sf. of a Grade A+ office asset in Thane, Mumbai and has distributed c. ₹28 crore to investors, with an average pre-tax distribution yield of c. 9.0%.

• PropShare Celestia: India’s 3^rd SM REIT scheme that listed on BSE in Apr’26 owns 0.21 mn sf of a Grade A commercial office asset in Nehru Nagar, Ahmedabad with projected first distribution in Jun’26 at a pre-tax distribution yield of c. 8.4%.

The SM REIT framework introduced by SEBI in Mar’24 has enabled individual investors direct access to institutional-grade commercial real estate through lower entry barriers, regular income distributions, tax efficiency, professional asset management, and exchange-listed liquidity. Emerging as a key driver of India’s next real estate growth cycle, SM REITs are making premium commercial real estate investments more accessible to retail investors. Backed by SEBI regulations and greater transparency, they are expected to attract increased domestic capital and further institutionalize the commercial real estate sector.

Roughly 40% of the overall Grade A office stock in the top seven cities of India, currently valued at ~USD 50 billion is SM REIT-worthy demonstrating the promise and potential of the sector.

Commenting on the evolution of the sector, Kunal Moktan, Co-founder of Property Share, said “Property Share founded the fractional ownership platform (FOP) investment model in 2015 which evolved with regulatory support into the SM REIT framework we know today. SEBI, through SM REITs have taken the best parts of the FOP model and made it better for investors by introducing stronger compliance, improving liquidity and providing access to capital markets. We are proud to be the torchbearers of this industry as it forges new ground in the securitized real estate market.”

Hashim Khan, Co-founder of Property Share, said “The emergence of SM REITs marks a structural shift in how Indian investors can participate in commercial real estate. Regulated SM REITs are making institutional-quality assets more accessible while bringing greater transparency and professional management to the sector. We believe this category has the potential to become one of the most credible long-term income and wealth creation avenues for retail investors in India.“

The upcoming pipeline is expected to include premium, fully leased commercial office assets backed by institutional occupiers. The company’s fourth SM REIT scheme is expected to build on the momentum created by the earlier listings and further strengthen investor participation in the category.