Alternative investment fund Mt K Kapital raises Rs 500 crore to invest in MMR realty projects

Alternative concern money Mt K Kapital connected Wednesday said it has raised implicit Rs 500 crore to deploy successful existent property projects successful the Mumbai Metropolitan Region (MMR). In a statement, Mt K Kapital said it has raised Rs 500 crore for its maiden money (Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund) from investors similar SBI, ICICI Bank, Famy Care and different HNIs.

Over Rs 300 crore has already been committed towards 5 projects successful the Mumbai portion by Keystone Realtors (Rustomjee Group).

The money is present exercising its greenish footwear enactment and is targeting to bash a last adjacent shortly.

Favourable macroeconomic conditions are apt to fortify the existent property marketplace and perchance thrust expected IRRs (internal complaint of returns) beyond 25 per cent, the institution said.

Mt K Kapital's halfway strategy targets speedy turnaround residential projects with debased equity investments and gives investors a stock of task profits from redevelopment assets crossed Mumbai.

The AIF plans to put successful 10-12 projects crossed the MMR, focusing connected redevelopment with the Rustomjee Group.

Boman Irani, Chairman & Managing Director of Rustomjee Group, said, "The Mt K level is built connected the principles of transparency and alignment of involvement betwixt the capitalist and the developers. We judge that our operation volition connection worth to investors looking to capitalise connected the maturation of existent property arsenic an plus class".

Binitha Dalal, laminitis and Managing Partner of Mt K Kapital, said, "With a chiseled marketplace advantage, we are committed to channelling the close superior into the existent property assemblage and stay bullish connected concern opportunities successful the MMR".

Mt K Kapital is simply a existent estate-focused money absorption institution with a Sebi-approved Category II Alternative Investment Fund license.