An acquisition spree has positioned private equity group Blackstone as the second biggest realty firm in India's office space market. According to data from international property consultants, the firm rivals Gurgaon-based DLF in the real estate arena. This was according to a report published by Times of India.

In the last two years, Blackstone has spent over USD600 million controlling around 21 million square feet of office establishments. The company holds another 7 million square feet of developmental potential in its assets. This makes Blackstone the most significant consolidator or work spaces in India. The group's annual yields range between 10% to 15%, the report said.

DLF holds 27 million square feet of office space. This is the biggest office establishment assets in India for now. With USD200 billion worth of assets under management, Blackstone could easily replace DLF as India's top landlord, said the report.

Blackstone is planning more buyouts in the country. The firm is planning to purchase a large stake in Vrindavan Tech Village in Bangalore. The group is also working on a possible purchase of Unitech's IT special economic zone in Dundahera, Times of India reported.