hBits to add Rs 1,000 crore worth asset under fractional ownership platform

Fractional ownership platform hBits has added assets worth Rs 100 crore in the last six months and target to bring Rs 1,000 crore asset under management in the next 12 months.

The company has seen investment in its assets from the senior executives and top management of almost 50 Indian blue chip companies. Besides these, hBits is working on integrating seamless transactions on its platforms and building on AI technology for its website and application.

“With pandemic, everyone is looking for safe investment avenues and regular income. We had earlier given ourselves a target of Rs 500 crore in a year. With this kind of growth, we are confident of achieving 1000 crores of AUM with hBits in the next 12 months,” said Shiv Parekh, Founder, hBits.

The company presently has 1 lakh square feet of area under management across five assets. The AUM includes Der Deutsche Parkz 31, 32, 41 and 42, Ackruti Centre Point 1 and 2. hBits has a lease of 5-7 years with all its marquee tenants such as , IIFL ATPI, Ingenico Group and Viaante Business Solutions.

“We are one of the fastest-growing fractional ownership platform in the country. Our goal is to capture 20% of the Rs 6 lakh crore market of Grade A assets in the same period,” he further added.