Real Estate/REITs Dealtracker Q3 2026

Q3 2026 recorded 24 deals totaling USD 705 million, marking the lowest quarterly volumes since Q2 2025. M&A led deal activity in this quarter accounting for 54% of overall volumes, followed by PE accounting for 37% of the overall volumes, however, PE dominated value share at 79% reflecting relatively larger deal sizes.

M&A activity comprised 13 domestic deals amounting to USD 92 million. The absence of inbound and outbound transactions during the quarter highlights a domestically driven market, with Indian strategic and financial investors playing a dominant role amid global uncertainty.

PE recorded nine deals amounting to USD 555 million, with values declining by 52% over last quarter. Q3 2026 reflected selective capital deployment, with PE investments concentrated in commercial and residential assets and a continued preference for income generating opportunities. Mega deals were absent in Q3 indicating delay in deal closures.

Primary-market activity was dominated by mid-market IPOs, with two IPOs together raising USD 59 million and muted QIP transactions recorded. In contrast, the previous quarter had one mid- market and one marquee IPO along with two QIPs raising approximately USD 782 million in total across both routes.