hBits Expands to Pune with CyberCity Magarpatta Campus Acquisition, Eyes Investment Opportunities

Fractional ownership platform hBits has recently expanded its operations to Pune, marking a significant milestone with the acquisition of a Grade A commercial property in CyberCity Magarpatta. This 44,328 square feet property is not just a commercial space but a vibrant ecosystem featuring a shopping mall, various restaurants, two schools, residential areas, a gymkhana, and a sprawling 25-acre park. Although the financial details of the transaction were not disclosed, the importance of this acquisition is clear.

The campus is nestled within a 450-acre gated township that boasts Grade A tenants, including US-listed corporations such as Amdocs and AirProducts. hBits' strategic move into Pune with this property aims to unlock an investment opportunity valued at Rs 55 crore. This initiative is part of hBits' broader vision to make Grade A commercial real estate accessible to a wider range of investors.

With this latest acquisition, hBits has successfully increased its total assets under management (AUM) to approximately Rs 365 crore. The company is on a robust growth trajectory with an ambitious target to reach an AUM of Rs 1,000 crore by the end of this fiscal year. The rental income and purchase price of the CyberCity Magarpatta campus are projected to yield a gross entry yield of 9 per cent and an anticipated internal rate of return of 15.15 per cent.

Pune has evolved into a dynamic hub for the IT and IT-enabled services sector over the years, alongside its established manufacturing and education sectors. "As Pune's commercial landscape flourishes, we are confident that the launch of our new asset will create significant investment opportunities for investors," stated Shiv Parekh, founder-CEO of hBits.

This expansion into Cybercity Magarpatta Campus, Pune by hBits underscores the growing attractiveness of the city as an investment destination for commercial real estate. The company's approach not only offers investors lucrative opportunities but also contributes to the democratization of access to premium real estate assets.