Motilal Oswal earmarks ₹575-cr for affordable projects

Motilal Oswal Real Estate, the real estate arm of Motilal Oswal Private Equity, has managed to generate over ₹575 crore to be invested in mid-income and affordable residential projects across six top cities in the country. The fund, which will also be selectively invested in commercial projects and its investment strategy, will be an extension of the strategy of its two earlier funds, director, Sharad Mittal, said, adding that the company has achieved the first close worth ₹575 crore for the fund within three months of launch. In this fund, it has also witnessed repeat commitments from many existing investors from previous funds. Till date, it has invested capital in the real estate sector through three real estate funds and portfolio management services (PMS) and proprietary (Prop) investments and currently has assets under management (AUM) exceeding ₹2,100 crore.