₹750 Cr Bet on Green Office Spaces: NCW Prime Fund Buys Prius Platinum in Saket, Delhi

India's commercial real estate sector is entering a transformative era, with institutional investors turning their attention to ESG-compliant, income-stable properties. In one such strategic move, NCW Prime Offices Fund has acquired Prius Platinum — a premium commercial asset in South Delhi’s Saket District Centre — for ₹750 crore. This acquisition underlines the growing institutional appetite for rent-yielding, green-certified office assets in high-demand urban zones.

Why Prius Platinum Commands Investor Attention

Spread across 3 lakh sq. ft. with over 95% occupancy, Prius Platinum is a Grade A office space housing a mix of blue-chip tenants from legal, pharmaceutical, and financial sectors. Its location in the Saket District Centre — one of South Delhi’s most prominent business hubs — adds to its investment allure.

Originally taken over in 2021 by a fund managed by Kotak Alternate Asset Managers Ltd through an IBC resolution process, the asset was significantly upgraded and repositioned post-acquisition. The upgrades were aligned with ESG standards, making the building future-ready and appealing to high-quality tenants and global capital alike.

The ESG Advantage

With environmental, social, and governance (ESG) norms becoming non-negotiable, buildings like Prius Platinum are now the benchmark. Post-resolution refurbishments focused on sustainability — green certifications, energy-efficient systems, and responsible property management — making the building a magnet for quality-conscious occupiers and long-term investors.

Such compliance not only enhances asset value but also ensures long-term operational viability — a vital consideration for funds aiming at predictable and responsible returns.

NCW’s Strategic First Step

This marks the debut investment for the NCW Prime Offices Fund, a joint initiative by Nuvama Asset Management and global real estate services giant Cushman & Wakefield. The fund plans to curate a portfolio of ESG-aligned, rent-stable commercial assets across top Indian metros.

By acquiring Prius Platinum, NCW not only establishes its footprint in the high-potential Delhi-NCR market but also signals its expertise in revitalizing distressed yet strategically located assets.

WALE: The Hidden Indicator of Asset Stability

Prius Platinum boasts a WALE (Weighted Average Lease Expiry) of five years — a robust metric that assures stable rental income and low vacancy risk in the medium term. Such metrics are essential for funds that prioritize sustainable cash flow over short-term speculation.

The Dealmakers

On one end was NCW Prime Offices Fund, leveraging Nuvama’s capital know-how and Cushman & Wakefield’s market intelligence. On the other, Kotak Alternate Asset Managers successfully exited an asset it had acquired during an IBC-driven resolution. By repositioning the asset through modernization and ESG integration, Kotak unlocked substantial value, culminating in this high-profile transaction.

Implications for India’s Office Market

The Prius Platinum acquisition is not just a one-off deal but indicative of a broader shift in Indian commercial real estate. Institutional ownership is on the rise, with focus areas shifting toward ESG, tenant well-being, and long-term operational efficiency.

This deal also proves that even older or stressed assets can be successfully turned around through thoughtful investments and strategic repositioning. With global corporates demanding more sustainable work environments, such ESG-aligned properties are poised to lead the next phase of commercial real estate growth in India.

Final Word

The ₹750 crore acquisition of Prius Platinum by NCW Prime Offices Fund sets a strong precedent for how institutional capital can drive sustainable transformation in India’s commercial real estate market. With ESG emerging as a critical value lever, this move signals a future where profitability and responsibility go hand in hand.

Disclaimer: This news report is based on publicly available information and does not constitute investment advice. Readers are advised to consult with certified professionals before making any financial decisions.