New Delhi, Sept. 24 -- Real-estate services company Anarock has acquired a 51% stake in DSP Design Associates, a multidisciplinary firm that offers architectural, master planning and interior-design services, the company said in a statement.
The deal brings together real-estate advisory and transaction capabilities of Anarock Group and design functions of DSP, which, the company believes, will help it offer clients an end-to-end service across India and select overseas markets.
Financial details of the deal were not disclosed.
DSP Design Associates has presence across Mumbai, Bengaluru, Pune, NCR and Hyderabad, supported by over 320 professionals in India. The firm claims to have delivered over 1,000 projects across geographies.
DSP will continue to be led by its founding leadership with guidance from Anarock.
"DSP's design pedigree and blue-chip client base make it a natural extension of the Anarock real estate ecosystem... Together, we can offer developers and corporates a seamless journey from site selection and transactions to design and build, unlocking significant value across the asset lifecycle," said Anuj Puri, founder and chairman, Anarock Group.
Bimal Desai, co-founder and principal, DSP Design Associates, said that the partnership allows them to scale up faster while staying true to the design philosophy and client relationships they have built over decades. "While the foundation we have built remains unchanged, Anarock now gives us the platform to expand across new geographies and service lines," he added.
DSP's practice spans three core capabilities, which are master planning, architecture, and interior design and design-build services across commercial IT parks, mixed-use developments, residential, retail and hospitality sectors, with over 125 million sq ft of ongoing projects.
On the commercial side, the firm claims to have worked with CapitaLand, Mapletree, Sattva, Tata Realty, Bagmane Developers and Purvankara, to name a few. On residential and mixed-use projects, it has worked with various developers including Adani Realty, L&T Realty, Emaar and Piramal Realty.
Published by HT Digital Content Services with permission from VC Circle.