Ishaan Real Estate increased its net asset value by 31% to 147p a share in the year six months to 30 September.

The AIM-listed Indian investor, which is chaired by former Land Securities chief executive Ian Henderson, was boosted by a 12% increase in the value of its portfolio to £601m after a revaluation by Cushman & Wakefield.

‘The increased NAV reflects the robust demand for our properties and the evidence of strong fundamentals of the Indian real estate market,’ said Henderson.

Indian opportunity

By the end of September Ishaan had invested £133m in eight projects in Mumbai, Hyderabad, Bangalore and Pune. Since October it has invested £26.2m for a 40% stake in a 4.5m sq ft, Special Economic Zone scheme in Navi Mumbai.

This increases the company’s total investment in Indian real estate to £159.4m. Director Neel Raheja said: ‘We are looking to invest £23m in India over the next two quarters in various mixed-use projects across the country. There is a strong demand for our properties in leasing and sales.’