Motilal Oswal Alternates (‘MOA’), the alternative investments arm of Motilal Oswal Group has committed INR 450 Crore with Shapoorji Pallonji Real Estate. The investment has been made against two projects.
One of the projects is a partially completed, leased, and operational commercial project located in Manesar. The other project is a residential township project which was launched in 2021 and has seen a positive sales response.
The investment, which has been made through structured debt instruments will be utilized towards working capital for the project, repayment of the debt, and achieving financial closure.
MOA currently manages five real estate funds and multiple standalone NCD investments. MOA’s cumulative assets under management for real estate currently stand at more than INR 6,000 crore. In real estate, MOA has made more than 100 investments across 135+ projects and secured 50 complete exits.
Sharad Mittal, CEO of Real Estate Funds, MO Alternates said, “We have recently concluded a transaction with Shapoorji Pallonji Real Estate through our platform. This marks our first investment with SP Real Estate – one of the leading developers in India. The investment is in line with our strategy to partner with established and credible developers for their mid-income housing projects. We hope that this investment forms a foundation of a long-standing partnership with Shapoorji Pallonji Real Estate.”
Venkatesh Gopalakrishnan, CEO of Shapoorji Pallonji Real Estate said, “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.”
