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New Delhi: Shapoorji Palanji Real Estate (SPRE) has raised Rs 450 crore Motilal Oswal Group To fund his two projects. Motilal Oswal OptionalThe investment arm of Motilal Oswal Group has pledged Rs 450 crore to Shapoorji Palanji 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 second project is a residential township project, which was launched in 2021 and has received a positive sales response.
“The investment made through the structured debt instrument will be used for working capital, debt servicing and achieving financial closure for the project,” Motilal Oswal said in a statement on Monday.
Venkatesh GopalakrishnanShapoorji Palanji Real Estate CEO said the additional funding will further strengthen the company’s growth story and add significant value to its project pipeline.
Sharad Mittal, CEO of Real Estate Funds, Motilal Oswal Alternates said, “We have recently completed a transaction with Shapoorji Palanji Real Estate through our platform. This is our first investment with SPRE. Established and trusted developers for their mid-income housing projects”.
Motilal Oswal Alternates currently manages five real estate funds and several standalone NCD investments. Its cumulative assets under management of real estate currently stands at over Rs 6,000 crore. In real estate, over 100 investments have been made in over 135 projects and 50 have achieved complete exits.
With a development potential of over 113 million sq. ft., SPRE has made inroads into most Indian cities – Mumbai, Pune, Bangalore, Gurugram, and Kolkata – offering a wide range of projects ranging from luxury apartments and homes to aspirational homes for mid-income homebuyers with the development as well as one of the largest mass housing projects in India.
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