Brookfield India Real Estate Trust’s arm, Kairos Properties, has acquired four office units in the Delphi building at Hiranandani Gardens, Powai, Mumbai, for ₹75.2 crore. The transaction was disclosed through a regulatory filing and is expected to be completed during the third quarter of FY2027.
The acquisition covers office units located across the fifth and sixth floors of Wing C of the Delphi building. Kairos Properties has entered into an Agreement for Sale with an unrelated third party for the purchase.
The transaction has been valued at ₹752 million, equivalent to ₹75.2 crore. Following completion, Kairos Properties’ ownership in the Delphi building, covering Wings A, B and C, is expected to increase from 80% to 86% on a gross leased area basis.
Kairos Properties Expands Ownership in Delphi Building
The acquired units include units 501 to 503 on the fifth floor and units 601 to 604 on the sixth floor of Wing C. The Delphi building forms part of Downtown Powai, a larger township development located within Hiranandani Gardens.
The regulatory filing does not disclose the individual area or occupancy status of the office units acquired through the transaction. However, the filing confirms that the acquisition will increase Kairos Properties’ overall ownership in the Delphi building.
The purchase will further consolidate Kairos Properties’ holding in the commercial development. The company already owns a majority interest in the building, and the additional acquisition will raise its share to 86% based on gross leased area.
The transaction also adds to Brookfield India Real Estate Trust’s exposure to Mumbai’s commercial office market through its investment platform. Powai has developed into an established office and mixed-use destination, with commercial properties occupied by companies across technology, financial services and other business sectors.
Brookfield Plans Large GCC Development in Powai
The acquisition comes alongside Brookfield’s plans for a large global capability centre (GCC) project in Powai. Brookfield has announced an investment of more than ₹9,000 crore for the development of a 2 million sq ft GCC facility in the area.
The proposed project is planned across six acres and is expected to provide around 20 lakh sq ft of lettable office space by 2029. The facility is being planned for a multinational bank under a proposed 20-year lease arrangement.
Brookfield has also stated that the power requirements of the proposed GCC will be met entirely through green sources. The project is part of the company’s broader expansion in the Indian commercial real estate market, particularly in office developments designed for large corporate occupiers.
Brookfield had previously commissioned a build-to-suit office tower in Pune in 2024 for the GCC operations of a large financial services company. The company’s activities across major office markets include developments and investments aimed at meeting the requirements of multinational and domestic corporate tenants.
Powai Remains an Active Office Market
The latest acquisition adds to the continuing commercial real estate activity in Powai. Located in Mumbai’s eastern suburbs, the area has developed as a mixed-use business and residential destination supported by established office developments, retail facilities and residential communities.
The presence of large corporate occupiers has contributed to demand for office space in the locality. Developments such as Downtown Powai form part of the area’s commercial property stock and cater to businesses seeking office space within an established urban township.
For Kairos Properties, the acquisition provides an opportunity to increase its ownership in an existing asset rather than entering into a new development. Once the transaction is completed, its ownership in the Delphi building will rise from 80% to 86% on a gross leased area basis.
The ₹75.2-crore transaction therefore strengthens Kairos Properties’ position in the Delphi building while adding to Brookfield India Real Estate Trust’s commercial office portfolio in Mumbai. The deal is expected to be completed in Q3 FY2027, subject to the terms and completion of the Agreement for Sale.
