Gopalan Enterprises targets Rs 500 crore rental income over 4-5 years
Real estate developer, Gopalan Enterprises, part of Gopalan Group, aims to increase its office rental income to Rs 500 crore annually and could list its assets as a real estate investment trust (REIT) in the next four-five years, a senior company executive said.
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The Bangalore-based company is planning to invest Rs 2,000 crore in developing a 20 million-sq ft office portfolio, C Prabhakar, director of Gopalan Enterprises, told ET.
“There is increasing demand for office space, which has led the company to prioritise the development of large corporate campuses,” said Prabhakar. “This initiative is part of the company's strategy to boost rental income...”
A REIT is an investment trust that owns, manages, and operates income-generating real estate assets. It allows individuals to invest in this platform, earning income from the property's rental yield and capital appreciation.
Among Gopalan’s clients are Oracle, Samsung, Google and TCS.
The company is engaged in projects spanning 100 acres across Whitefield, Outer Ring Road in Bengaluru, and Mysore.
Prabhakar said the emphasis will be on development of office and residential properties rather than malls.
Gopalan Aerospace, a subsidiary of Gopalan Enterprises, collaborates with entities such as Defence Research and Development Organisation (DRDO), army, navy and air
