AGI Infra lifts upcoming commercial share to 17.82% of saleable area

AGI Infra Limited’s four upcoming projects allocate 11,00,000 square feet, or 17.82% of 61,73,000 square feet of saleable area, to office and retail space, against 1.04% in its 13 ongoing projects; premium and luxury housing remains the largest future category at 45,00,000 square feet, or 72.90%.

What is AGI Infra’s upcoming development mix?

AGI Infra’s upcoming portfolio is led by premium and luxury housing, which represents 45,00,000 square feet or 72.90% of the 61,73,000 square feet planned across four projects. Affordable housing accounts for 5,73,000 square feet, or 9.28%, while office and retail space account for the remaining 11,00,000 square feet, or 17.82%.

Office space and retail space each have an allocation of 5,50,000 square feet in the upcoming group, equal to 8.91% of its saleable area for each format. The equal allocation means the future commercial component is split evenly between office and retail, rather than being concentrated in one of the two property types.

The disclosed upcoming mix gives commercial formats a larger share than affordable housing, with office and retail together at 17.82% against 9.28% for affordable housing. In absolute terms, the 11,00,000 square feet assigned to the two commercial categories exceeds the 5,73,000 square feet assigned to affordable housing by 5,27,000 square feet.

AGI Infra identifies four upcoming projects but does not divide those four schemes by product category, location, launch date or expected completion date. The 61,73,000-square-foot figure therefore describes the combined saleable area of the upcoming portfolio, rather than the size or timing of individual developments.

How does AGI Infra’s upcoming mix compare with ongoing projects?

AGI Infra’s upcoming commercial allocation is 17.82% of saleable area, compared with 1.04% in its ongoing portfolio of 13 projects. Ongoing projects contain 1,20,032 square feet of office space and 82,152 square feet of retail space, for a combined 2,02,184 square feet out of 1,95,43,301 square feet.

The commercial share rises by 16.78 percentage points between the ongoing and upcoming groups, based on the presentation’s 1.04% and 17.82% figures. In area terms, the 11,00,000 square feet of planned office and retail space is 8,97,816 square feet higher than the 2,02,184 square feet in the ongoing portfolio, although the groups contain four and 13 projects respectively.

Premium and luxury housing remains the largest category in both groups, but its share declines to 72.90% in upcoming projects from 82.98% in ongoing projects. That is a reduction of 10.08 percentage points, while the related area falls from 1,62,18,017 square feet in ongoing work to 45,00,000 square feet in the smaller upcoming group.

Affordable housing also has a lower allocation in the upcoming portfolio, at 9.28%, than in ongoing projects, at 15.98%. The underlying areas are 5,73,000 square feet in the upcoming group and 31,23,100 square feet in the ongoing group, a difference that also reflects the larger overall ongoing portfolio of 1,95,43,301 square feet.

How does AGI Infra’s upcoming mix compare with completed projects?

AGI Infra’s completed projects have no office space and only 1.18% retail space, whereas its upcoming portfolio assigns 8.91% each to office and retail. The completed group consists of 11 projects with 1,02,19,516 square feet of saleable area, including 1,20,100 square feet of retail space.

The upcoming retail allocation of 5,50,000 square feet is 4,29,900 square feet above the 1,20,100 square feet recorded in completed projects. Office space changes from nil in the completed portfolio to 5,50,000 square feet in the upcoming group, based on the category totals in the project portfolio presentation.

Completed projects carry a 26.41% affordable-housing allocation, or 26,99,180 square feet, compared with 9.28%, or 5,73,000 square feet, in upcoming projects. The difference is 17.13 percentage points, making affordable housing the category with the clearest lower share in the future group relative to completed projects.

Premium and luxury housing accounts for 74,00,236 square feet, or 72.41%, in the completed portfolio. Its 72.90% share in upcoming projects is 0.49 percentage points higher, although the future premium and luxury area of 45,00,000 square feet is below the completed area because the upcoming portfolio totals 61,73,000 square feet versus 1,02,19,516 square feet already completed.

AGI reports the 11 completed projects as of September 30, 2026. The presentation does not state whether the completed projects’ 1.18% retail allocation generates recurring income, identify occupiers, or provide sales, leasing or pricing data for the 1,20,100 square feet of completed retail space.

How large is AGI Infra’s portfolio by development stage?

AGI Infra’s ongoing portfolio is its largest disclosed stage, with 1,95,43,301 square feet across 13 projects, followed by 1,02,19,516 square feet across 11 completed projects and 61,73,000 square feet across four upcoming projects. The three stages add up to 3,59,35,817 square feet and 28 projects, calculated from the published stage totals.

Based on that 3,59,35,817-square-foot aggregate, ongoing developments represent 54.39% of disclosed area, completed projects represent 28.44%, and upcoming projects represent 17.18%. These calculated shares show that the 61,73,000-square-foot upcoming group is smaller than the existing ongoing development base, despite its higher 17.82% commercial allocation.

Premium and luxury housing totals 2,81,18,253 square feet across completed, ongoing and upcoming stages, calculated from 74,00,236 square feet, 1,62,18,017 square feet and 45,00,000 square feet respectively. The category is the largest disclosed use in all three stages, ranging from 72.41% of completed area to 82.98% of ongoing area.

Office and retail space together total 13,72,284 square feet across the three stages, including 1,20,100 square feet of completed retail, 2,02,184 square feet of ongoing commercial area and 11,00,000 square feet planned in the upcoming group. The 11,00,000-square-foot future allocation represents most of the commercial space identified across the three disclosed portfolio stages.

Conclusion

AGI Infra’s portfolio presentation shows a future mix that remains predominantly residential, with premium and luxury housing accounting for 72.90% of upcoming saleable area. The main change from the 1,95,43,301-square-foot ongoing portfolio is the allocation of 5,50,000 square feet each to office and retail, taking the combined commercial share to 17.82% from 1.04%.

The next disclosure to watch is the progression of the four upcoming projects with 61,73,000 square feet of saleable area, particularly the 11,00,000 square feet assigned to office and retail. The supplied presentation does not disclose project locations, launch schedules, completion targets, pricing, sales or leasing measures for those four projects, leaving the execution timetable and commercialisation details unresolved.