Mt K Kapital secures over Rs 5 billion for Mumbai realty investments

27 Sep 2024 CW Team

Alternative investment fund Mt K Kapital announced that it has raised over Rs 5 billion to invest in real estate projects within the Mumbai Metropolitan Region (MMR). In a statement, the firm revealed that this amount was collected for its inaugural fund, the Mt K Resi Development Fund, which is a Category II SEBI-registered Alternative Investment Fund. Notable investors include SBI, ICICI Bank, Famy Care, and other high-net-worth individuals (HNIs).

The fund has already committed over Rs 3 billion to five projects in the Mumbai area through Keystone Realtors (Rustomjee Group). It is now exercising its green shoe option and aims to finalize the close shortly.

According to the company, favourable macroeconomic conditions are expected to bolster the real estate market and may drive anticipated internal rates of return (IRRs) beyond 25 per cent. Mt K Kapital’s core strategy focuses on quick turnaround residential projects that require low equity investments, allowing investors to receive a share of the profits from redevelopment assets throughout Mumbai.

The AIF plans to invest in 10 to 12 projects across the MMR, particularly concentrating on redevelopment in collaboration with the Rustomjee Group.

Boman Irani, Chairman & Managing Director of Rustomjee Group, stated that the Mt K platform is founded on principles of transparency and alignment of interests between investors and developers. He expressed confidence that this structure would provide value to investors seeking to capitalize on the growth of real estate as an asset class.

Binitha Dalal, founder and Managing Partner of Mt K Kapital, remarked that with a unique market advantage, the company is dedicated to channeling appropriate capital into the real estate sector and maintains a positive outlook on investment opportunities in the MMR. Mt K Kapital operates as a real estate-focused fund management company with a SEBI-approved Category II Alternative Investment Fund license.

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