The club’s connection with Loftus Road dates back to 1917 but Fernandes believes the club needs a larger capacity stadium.
Loftus Road is currently the lowest capacity Premier League stadium with a capacity of just over 18,000.
Fernandes thinks that with a new stadium, QPR could fill up to 45,000 seats.
He said: "Some fans are saying 'We don't have a fan base bigger than 20,000'. My gut feeling is 40-45,000. That's double where we are right now, but we're in London and there's a strong catchment area.
“It's still premature, the key this season is to survive, but we would like a bigger ground.
"It has to be in the area. It makes no sense to move out from where you have spent most of your life, and where the fan base is.
"I've built airlines and Formula One teams, but building a stadium is not the easiest thing in the world. There are opportunities in west London we are looking at.”
Fernandes completed his takeover of QPR in mid-August.