Smartworld Developers raises Rs 2.50 bn from Motilal Oswal
Real Estate

Smartworld Developers raises Rs 2.50 bn from Motilal Oswal

Realty firm Smartworld Developers has raised Rs 2.50 billion from Motilal Oswal to build existing housing projects and fund future growth plans.

Smartworld Developers, which has been set up by the promoters of the M3M Group, had in October last year announced an investment of around Rs 30 billion to develop the company's first two residential projects in Gurugram.

The funding from Motilal Oswal will be used as growth capital and also for the development of existing housing projects, Smartworld Developers said on Sunday. The company has launched two projects, Smartworld Orchard, and Smartworld GEMS, in Gurugram.

The company has recorded sales of over Rs 40 billion so far. It has Rs 250 billion worth of projects and over 25 million square feet development potential in the next five years. Vivek Singhal, the chief executive officer of Smartworld Developers, said, “Even though last year was largely affected by the pandemic, our inaugural projects, Smartworld Orchard and Smartworld Gems, have been received exceedingly well by the consumers.”

The company plans to launch two more luxury projects in 2022-23.

"This new funding will further augment our growth story. We are also in advance discussions with various national and international private equity (PE) players to set up a development platform for Smartworld's upcoming projects," Singhal said.

Smartworld plans to expand into key real estate markets such as Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Goa, and Hyderabad in the near future, he said.

See also:
DLF to introduce new projects worth ₹3,500 crore
NAREDCO sets up committee to help builders access funds


Realty firm Smartworld Developers has raised Rs 2.50 billion from Motilal Oswal to build existing housing projects and fund future growth plans. Smartworld Developers, which has been set up by the promoters of the M3M Group, had in October last year announced an investment of around Rs 30 billion to develop the company's first two residential projects in Gurugram. The funding from Motilal Oswal will be used as growth capital and also for the development of existing housing projects, Smartworld Developers said on Sunday. The company has launched two projects, Smartworld Orchard, and Smartworld GEMS, in Gurugram. The company has recorded sales of over Rs 40 billion so far. It has Rs 250 billion worth of projects and over 25 million square feet development potential in the next five years. Vivek Singhal, the chief executive officer of Smartworld Developers, said, “Even though last year was largely affected by the pandemic, our inaugural projects, Smartworld Orchard and Smartworld Gems, have been received exceedingly well by the consumers.” The company plans to launch two more luxury projects in 2022-23. This new funding will further augment our growth story. We are also in advance discussions with various national and international private equity (PE) players to set up a development platform for Smartworld's upcoming projects, Singhal said. Smartworld plans to expand into key real estate markets such as Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Goa, and Hyderabad in the near future, he said. See also: DLF to introduce new projects worth ₹3,500 croreNAREDCO sets up committee to help builders access funds

Related Stories

Gold Stories

Next Story
Real Estate

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Next Story
Infrastructure Urban

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Next Story
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement