Tata Realty & Infrastructure (TRIL) plans to augment its office space portfolio to 30 million sq. ft. over the next seven years, which would be triple the size from the current 10 million sq. ft. It has made two new acquisitions in Pune and Bengaluru, and expanded in Pune, and NCR, and in this period, it will add more to the portfolio.

The move is led by the growth of flexible workspace operators, and is a strong emerging trend for the company. The company is also expanding its residential business, as it currently has about 13 million sq. ft. of properties under development across NCR, Mumbai, and Bengaluru, with an estimated revenue potential of about 18,000 crore. It will also develop a boutique luxury residential project at Hailey Road in central Delhi. The company also has a five-acre plot in Colombo, and it may consider developing 2.5 million sq. ft. on the land. Meanwhile, TRIL will continue its focus on Tier-I cities.

Since most of its current portfolio is part of special economic zones (SEZs), TRIL is applying for denotification in line with recent government rules, allowing partial and floor wise denotification. This amendment opens new avenues for space utilisation within SEZs, which would benefit IT and ITES firms in particular. As per the Act, TRIL can seek denotification for up to half of its total portfolio.