India’s Real Estate Sector Reaches New Heights with $1.3 Billion in Deals in Q3 2024

Record Deal Activity and Strong Market Confidence

India’s real estate market witnessed significant growth during the July-September period (Q3) of 2024, with 25 deals valued at $1.3 billion, according to a report by Grant Thornton Bharat. This quarter marked the highest number of deals on record and the second-highest deal value since Q2 2023.

India's Real Estate Sector Achieves Record Growth with $1.3 Billion in Deals for Q3 2024

Key Drivers of Growth: QIPs, Private Equity, and Real Estate Technology

The surge in deal activity was primarily driven by strong Qualified Institutional Placements (QIPs), increased private equity (PE) investments across residential and commercial sectors, and a rising interest in real estate technology companies. These factors contributed to robust market momentum despite challenges in other segments.

Private Equity and M&A: Volume Increase Despite Value Decline

While Q3 2024 saw a 71% decline in overall PE and mergers and acquisitions (M&A) deal values compared to Q2 2024, deal volumes increased by 5%. Year-over-year comparisons showed a 54% increase in the number of deals, although total deal values dropped by 41% from Q3 2023.

Notable Transactions in Property Development and Housing

The quarter saw three inbound deals within the property development space and two outbound transactions in the student housing and online rental platform sectors. Private equity activity remained strong, with 12 deals totaling $401 million, with the top two deals accounting for $346 million.

QIP Surge: Six-Fold Growth in Funding

One of the highlights of Q3 2024 was the surge in QIP activity. Four deals totaling $940 million were completed, reflecting a nearly six-fold increase from Q2 2024. Additionally, the quarter saw one IPO raise $49 million, showcasing continued investor confidence in public offerings.

Outlook for Q4 2024: Renewed Interest in PE and M&A

As Q3 came to a close, renewed PE and M&A activity indicated potential for stronger momentum heading into Q4 2024. This resurgence suggests continued growth opportunities for India’s real estate sector in the months ahead.

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