New Delhi, Oct. 13 -- Arnya Realestates Fund Advisors, a real estate-focused investment management firm, has committed Rs 415 crore ($46.7 million) from its maiden realty fund towards housing projects across key Indian cities, the company said in a statement.
The firm had launched its maiden offering, Arnya Real Estate Fund - Debt, in 2024 with a target corpus of Rs 1,000 crore. The fund is expected to achieve its final close by the end of this calendar year.
With the latest commitment, the Mumbai-headquartered firm's assets under management (AUM) have crossed Rs 675 crore. It expects total deployment to exceed Rs 1,200 crore by the end of the current financial year.
The fund provides early-stage growth capital to tier I developers across India's top eight cities. It has raised capital from a diverse investor base, including high-net-worth individuals (HNIs) and family offices.
The latest capital commitments include investments in projects by Vaishnavi Group for a villa development in southeast Bengaluru, MAIA Estates for a premium apartment project in south-central Bengaluru, Gami Group for a mixed-use development in Navi Mumbai, and Casagrand for an apartment project in south Bengaluru.
"Our Rs 415 crore commitment across projects in less than a year underscores the strong momentum in India's residential real estate market, supported by robust end-user demand, healthy affordability, and a favourable policy environment," said Sharad Mittal, founder and chief executive officer, Arnya Realestates Fund Advisors.
Arnya recently launched its second residential fund through a platform partnership with Supreme Universal, targeting a corpus of Rs 1,000 crore.
Founded by Sharad Mittal and a team of senior industry professionals, Arnya Realestates Fund Advisors is an independent, real estate-focused investment management firm. Mittal brings over 24 years of experience in the sector and has overseen more than Rs 10,000 crore in investments across 175 projects nationwide.
Published by HT Digital Content Services with permission from VC Circle.