BlackOpal, a newly set up entity for real estate project management and financing, has bagged six projects in the Delhi-NCR market involving an investment of ₹1,000 crore. The company, founded by Prasson Chauhan - former co-founder and CEO of realty firm ATS Homekraft, has secured four projects in Ghaziabad and one each in Noida and Greater Noida where it will provide support in areas like finance, sales & marketing, designing and customer relationship management (CRM). The company informed that it has provided capital as a financing arm to all the projects worth about ₹10-15 crore and is currently managing six projects in different capacities aggregating to around 3 million sq ft valued over ₹1,300 crore with a team of 25+ industry professionals. The primary objective is to provide strategic solutions to real estate projects throughout their life cycle. The company would be able to support developers as a niche asset manager with a unique capability of managing the entire project in development management (DM)) model or through equity participation including managing specific functions like sales & marketing, CRM support, capital structure solution, design & construction, among others. The company is also contemplating to set up an NBFC to provide capital in the real estate sector, which is facing a huge liquidity issue and awaiting the approval from RBI on this score.
