Motilal Oswal Alternates commits ₹450 crore in Shapoorji Pallonji Real Estate

BENGALURU: Motilal Oswal (MO) Alternates Investment Advisors, the choice investments arm of economic establishment Motilal Oswal Group, on Monday mentioned it has invested 450 crore with Shapoorji Pallonji Real Estate.

The capital dedication is for the Mumbai-based developer’s two actual property initiatives – a business and residential township. The business mission close to Manesar in Gurugram, known as SP Infocity, is {a partially} accomplished, leased and operational mission, whereas the residential township mission in Bavdhan in Pune, known as SP Vanaha, was launched in 2021.

This is MO Alternates’ first funding in Mumbai-based Shapoorji Pallonji Real Estate and will likely be used as working capital for the mission, for repaying debt and reaching monetary closure, the corporate mentioned in a press release. It has been accomplished via structured debt devices.

“This marks our first funding with SP Real Estate – one of many main builders in India. The funding is in line with our technique to companion with established and credible builders for his or her mid revenue housing initiatives. We hope that this funding kinds the inspiration of a long-standing partnership with Shapoorji Pallonji Real Estate,” said Sharad Mittal, chief executive of Real Estate Funds, MO Alternates.

Last month, MO Alternates had committed 260 crore (around $31.4 million) in real estate developer Urbanrise – Alliance Group for the development of its three upcoming housing projects in Bengaluru and Hyderabad.

MO Alternates, currently managing five real estate funds, has over 6000 crore in assets under management in real estate. In the past, it has partnered with Casagrand Builders, M3M/ Smartworld Group, Kolte Patil Developers, Shriram Properties, Phoenix Group, Ashwin Sheth Group, Marathon Group among others.

“We appreciate the investment made by Motilal Oswal Alternates in our projects. This exemplifies the company’s strong trust in our brand. The additional funding will strengthen our growth story even more by adding significant value to our project pipeline,” mentioned Venkatesh Gopalakrishnan, chief govt, Shapoorji Pallonji Real Estate.

Shapoorji Pallonji Real Estate is part of the 155 year-old Shapoorji Pallonji Group, a multi-business Indian conglomerate. It develops initiatives starting from luxurious flats and houses to aspirational houses for mid-income homebuyers in addition to mass housing residencies in cities together with Mumbai, Pune, Bengaluru Gurugram, and Kolkata, with a improvement potential of over 113 million sq. toes.

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