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Arnya Real Estate Fund Advisors, a SEBI-registered Category II alternative investment firm specializing in real estate, has partnered with Mumbai-based developer Supreme Universal to launch a Rs. 1,000 crore real estate equity fund focused exclusively on residential redevelopment in Mumbai and Pune. The fund, named Arnya Real Estate Fund – Equity, combines Arnya’s fund management expertise with Supreme Universal’s four-decade-long development experience, including the delivery of over 80 landmark projects.
The fund targets a base corpus of Rs. 500 crore, with a green-shoe option of an additional Rs. 500 crore, allowing it to scale up to Rs. 1,000 crore depending on investor demand. By concentrating on Mumbai and Pune, two of India’s most resilient housing markets, the partnership aims to capitalize on the booming redevelopment sector—considered the fastest-growing and most scalable segment within Indian real estate.
Redevelopment projects offer unique investment potential because they combine high demand for urban housing with opportunities to modernize existing structures. By focusing on well-structured redevelopment initiatives, the fund aims to deliver superior risk-adjusted returns for investors while simultaneously contributing to the modernization of city landscapes and communities.
Sharad Mittal, Founder of Arnya Real Estate Fund, emphasized the strategic rationale behind the partnership, “Our objective at Arnya is to build a real estate-focused investment platform that provides investors with access to unique opportunities through private equity. We believe Mumbai’s redevelopment segment represents the most scalable and resilient business model within Indian real estate, and through this fund we are creating a disciplined and structured way to participate in it. With its proven track record over four decades, Supreme Universal brings the right expertise to help us achieve this vision.”
Sunny Bijlani, Joint Managing Director of Supreme Universal, highlighted the social and economic impact of redevelopment projects. “For over four decades, having delivered 80 projects, Supreme has been shaping Mumbai’s skyline with trust and excellence. Redevelopment is not just about creating new homes, but about uplifting entire communities. This partnership represents the future of real estate investing – professional, transparent, and performance-driven. With Arnya, we are excited to offer investors a chance to be part of this journey while creating meaningful value for residents and the city alike.”
Vishal Jumani, Joint Managing Director of Supreme Universal, added that the fund reflects the evolving needs of real estate investment. “As the real estate market evolves, there is a need to have the right kind of capital coming into real estate projects. We are delighted to have this partnership with Arnya – it mirrors our own philosophy of quality, transparency, and accountability. Together, we are building a model where capital, expertise, and execution converge to deliver both premium projects for buyers and superior outcomes for investors.”
This equity fund is Arnya’s second product offering following its successful debt fund, which reportedly received strong investor interest. The new equity vehicle provides investors with direct participation in Mumbai and Pune’s redevelopment sector, allowing exposure to high-growth, income-generating real estate projects backed by a structured investment framework.
With urban housing demand in Mumbai and Pune showing long-term resilience, the fund aims to strategically deploy capital in scalable redevelopment projects, enhancing living conditions and creating long-term value for investors and communities alike. By leveraging Arnya’s investment management expertise and Supreme Universal’s execution capabilities, the partnership seeks to establish a professional, transparent, and performance-driven model of real estate investing, setting a benchmark for future private equity participation in India’s redevelopment market.
The Arnya-Supreme Universal fund underscores a growing trend of institutionalized capital entering India’s urban redevelopment sector, which is expected to gain momentum as cities modernize, populations rise, and demand for premium housing grows. For investors, the fund offers structured exposure to one of the most dynamic and resilient segments of Indian real estate.
