South Delhi’s Prius Platinum Acquired for ₹750 Crore

In a strategic move aligned with its core investment philosophy, the Prime Offices Fund (PRIME), managed by Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW), has announced the acquisition of a Grade A commercial office asset in South Delhi’s Saket District Centre. The property, known as Prius Platinum, spans 3 lakh sq.ft and was acquired for approximately ₹750 crore.

Leased Asset with Stable Income

The commercial property is reported to be 95% leased and is expected to yield a monthly rental income in the range of ₹5–6 crore. It comes with a weighted average lease expiry (WALE) of five years and strong in-place lock-in periods. The building currently hosts a distinguished tenant profile consisting of prominent legal, pharmaceutical, and financial firms, offering long-term income stability.

Revival Through ESG and Operational Upgrades

The property was earlier acquired through the IBC process by a Kotak-led consortium in 2021. Since then, it has undergone substantial upgrades, incorporating ESG initiatives and enhanced operational efficiencies. These enhancements are said to have significantly boosted leasing activity. The sale was described as a result of value creation through sustainability-focused strategies.

Strategic Investment in Core Markets

This acquisition is being viewed as a milestone in PRIME’s goal to build a premium, income-generating office portfolio across India's major commercial centres. According to the fund managers, the asset's institutional-grade quality and ESG compliance made it a perfect match for PRIME’s criteria. JLL India advised on the transaction but refrained from commenting.

About the Fund and Partners

PRIME is the flagship fund of NCW, a 50:50 joint venture between Nuvama Asset Management and global real estate services firm Cushman & Wakefield. The fund received SEBI approval in 2024 and completed its first close in 2025. It is focused on acquiring prime office spaces in high-growth micromarkets across India, aiming to democratise access to institutional real estate opportunities for domestic investors.

The asset was previously held and managed by Kotak Alternate Asset Managers Ltd, a part of the Kotak Mahindra Group, which has a legacy of managing over $22 billion in alternative assets across diverse verticals such as real estate, private equity, infrastructure, and private credit.

News Disclaimer: This article is a rewritten version of an existing news report for informational and editorial purposes. All company references have been retained to preserve the original context of the transaction.