I n v e s t m e n t m a n a g e m e n t
“Our investment in BlueRidge Phase II
in Pune and acquisition of CyberVale in
Chennai enhances a-iTrust’s portfolio
earnings and diversification.”
Sanjeev Dasgupta
CEO
Development strategy
Since listing, a-iTrust has developed 3.55 million
sq ft of commercial space from its land bank. The
Trust continues to hold substantial vacant land
in Bangalore, Chennai and Hyderabad, with total
development potential of 3.64 million sq ft.
In August 2014, we commenced the construction
of Victor, a 0.62 million sq ft multi-tenanted
IT building. The building is expected to be
completed by June 2016. Excluding Victor,
we have the capacity to build an additional
2.24 million sq ft of commercial space in
Bangalore. This sizeable land bank will be
developed in phases to meet market demand.
In Chennai, the recently acquired CyberVale has
a 4.4 acres vacant plot with the potential to build
a 0.37 million sq ft IT building. Construction will
commence when we have clear visibility of leasing
demand in that micro-market.
Lastly in Hyderabad, we are redeveloping The V
in phases to gain additional floor area. We will be
constructing a new multi-tenanted IT building with
floor area of 0.41 million sq ft and a multi-level
car park that accommodates 660 cars. The new
IT building is expected to be completed by the
second half of 2017. These new developments
will cater to the growing expansion needs of new
and existing tenants in Hyderabad.
Acquisition strategy
We seek acquisitions that enhance the
diversification of the portfolio and enhance
risk-adjusted returns to unitholders.
We have targeted Bangalore, Chennai,
Hyderabad, Mumbai, National Capital Region
(comprising Delhi, Gurgaon and Noida) and Pune
for new acquisitions. These cities were chosen
because of their sound infrastructure, sizeable
pool of talented workforce, and substantial
economic base.
When sourcing for third party properties, we
leverage on Ascendas Group’s presence in India
and access to market information to gain a
competitive advantage.
ASCENDAS india trust ANNUAL REPORT 2014/15
