Motilal Oswal infuses Rs. 800cr in realty projects

Motilal Oswal Realty Projects
The private equity real estate fund of Motilal Oswal Group Real Estate, has recently secured Rs. 800-cr funds aimed to be invested in residential projects of developers in Mumbai Metropolitan Region, Delhi-National Capital Region, Bengaluru, Pune, Hyderabad, and Chennai. The funds, as part of third real estate funds raised from high networth individuals and family offices. The fund, set up as an alternative investment fund, or AIF category II, will target a gross internal rate of return of 23-25% from its investments. It will have tenure of five years from final close and two extensions of one year each. In fact, the company has achieved first closure of Rs. 600-cr for the fund in four months of the launch in November. Given the performance of its second fund, it is witnessing repeat commitments from many existing investors and it is on its way to conclude entire targeted fund of Rs. 1,000cr, over the next three months, said Sharad Mittal, Head, real estate fund, Motilal Oswal Real Estate.

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