Anarock Acquires 51% Stake in DSP Design Associates at ₹400 Crore Enterprise Value

Anarock Group has acquired a 51% stake in architecture and design firm DSP Design Associates at an enterprise value of around ₹400 crore, bringing a large design practice into its real estate services platform.

The transaction combines Anarock’s real estate advisory and transaction capabilities with DSP’s expertise in architecture, master planning, interior design and design-build services. The move is expected to expand the range of services available to developers and corporate clients across the real estate lifecycle.

DSP Design Associates has a presence in Mumbai, Bengaluru, Pune, the National Capital Region and Hyderabad, supported by more than 320 professionals in India. The firm has delivered over 1,000 projects across different markets and sectors.

Its work spans commercial IT parks, mixed-use developments, residential projects, retail and hospitality. DSP currently has more than 125 million sq ft of ongoing projects across these segments.

The firm has also built a significant corporate interior design practice. According to the companies, DSP’s interior design business has worked with 50 Fortune 500 companies, providing both design consultancy and design-and-build services.

On the commercial real estate side, DSP’s client portfolio includes CapitaLand, Mapletree, Sattva, Tata Realty, Bagmane Developers and Puravankara. Its residential and mixed-use work includes projects for developers such as Adani Realty, L&T Realty, Emaar and Piramal Realty.

Following the transaction, DSP will continue to be led by its founding leadership, with Anarock providing overarching guidance. The structure is intended to maintain continuity in the firm’s brand, management, client relationships and design approach.

Anarock Group founder and chairman Anuj Puri said the acquisition would complement the company’s Project Management & Engineering Services and advisory businesses. He said the combination would allow clients to access services ranging from site selection and transactions to design and construction.

DSP co-founder and principal Bimal Desai said the partnership would provide the firm with a platform to expand into new geographies and service lines while retaining its existing design philosophy and client relationships.

The acquisition comes as developers and occupiers increasingly seek integrated services covering planning, design, project execution and real estate transactions. With DSP’s established design capabilities and Anarock’s real estate advisory network, the combined platform will focus on serving clients across multiple stages of the asset lifecycle.