Brookfield India Real Estate Trust’s arm, Kairos Properties, has agreed to acquire additional office units in Mumbai’s Powai for Rs. 75.2 crore. The units are located in the Delphi building at Hiranandani Gardens, which forms part of the larger Downtown Powai township.
The acquisition covers office units spread across the fifth and sixth floors of Wing C of the Delphi building. Post the transaction, Kairos’ ownership of the Delphi building is set to rise by 80 to 86 percent on a gross leased area basis. The deal is expected to be closed by the third quarter of the FY 2026-27.
Brookfield adds more office space in Powai
Kairos Properties has entered into an agreement for sale with an unrelated third party to purchase office units.The agreement further provides that units 501 to 503 on the fifth floor and units 601 to 604 on the sixth floor of Wing C shall be purchased.
The aggregate amount of the cash consideration for the acquisition of the units is at Rs. 752 million or Rs. 75.2 crore. The transaction has been approved by the boards of Kairos Properties and Brookprop Management Services, which manages Brookfield India REIT.
The purchase will add to Kairos’ existing holding in the Delphi building, which comprises Wings A, B and C. The increase in ownership will give the REIT a larger share of the commercial property within the Downtown Powai development.
Ownership in Delphi building to rise to 86%
The acquisition will take Kairos’ ownership in the Delphi building from 80% to 86% based on gross leased area. The change will take effect once the purchase is completed under the terms of the Agreement for Sale.
The transaction is expected to close in Q3 FY27. Until completion, the purchase remains subject to the terms and conditions of the agreement.
The deal is part of Brookfield India REIT’s existing commercial property holdings in Powai.Its Downtown Powai portfolio includes nine completed buildings, including Alpha, One Downtown Central, Delphi, Fairmont, Winchester, Prudential, Spectra, One Boulevard and Ventura A. The portfolio is spread across nearly 20 acres in Hiranandani Gardens.
Delphi forms part of Downtown Powai
The Delphi building is located within Hiranandani Gardens and forms part of Downtown Powai, a larger township with residential, commercial and retail developments.
The commercial development has an established office presence, with Brookfield India REIT's existing portfolio in the area comprising multiple completed office buildings. A valuation report for the Powai portfolio recorded around 28.6 lakh sq ft of leasable area across the assets, with an occupied area of about 27.2 lakh sq ft as of March 2026.
The acquisition therefore adds to an existing commercial property holding rather than marking Brookfield’s first entry into the Powai office market.
Brookfield has larger plans for Powai
The latest acquisition comes alongside Brookfield’s broader presence in Powai. Brookfield has previously announced plans for a high-rise built-to-suit office development for JPMorgan Chase in Powai. The company has also announced plans for a large global capability centre in the area, involving an investment of more than Rs. 9,000 crore.
The proposed project is planned across six acres and is expected to have around 2 million sq ft of lettable area. It is being developed for a multinational bank under a long-term lease arrangement, with completion targeted for 2029.
The Rs. 75.2 crore office acquisition is separate from that larger development. For Brookfield India REIT, the immediate transaction increases its ownership in an existing office asset in Powai, while the broader projects add to the group's commercial real estate presence in the Mumbai suburb.
