Mt. K Kapital Raises Over INR 500 CR for Residential Development Fund
Mt. K Kapital, a real estate development fund management company, has successfully raised over INR 500 CR for its maiden fund, the Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund. This fund has received investments from esteemed institutions such as SBI, ICICI Bank, Famy Care, and other high-net-worth individuals (HNIs). With over INR 300 CR already committed to five projects in prime locations within Mumbai, the fund is now exercising its green shoe option and is on track to finalize its fundraising in the near future.
New Exciting Realestate Projects in Mumbai’s Best Locations
Among the projects the fund has committed to are The Panorama Pali Hill in Bandra West, Ocean Vista Versova Beach in Andheri West, Cliff Tower Mt Mary Road in Bandra West, Dhuruvadi Prabhadevi, and Crescent Pali Hill in Bandra West. The Panorama and Ocean Vista projects have already obtained the necessary approvals, with construction in progress and active sales underway. The fund’s investment structure provides investors the opportunity to capitalize on its outstanding performance. Furthermore, with favorable macroeconomic conditions expected to strengthen the real estate market, investors could potentially benefit from expected IRRs exceeding 25%.
The Mt. K Kapital Advantage
Mt. K Kapital’s core strategy focuses on quick turnaround residential projects that require low equity investments. This strategy allows investors to enjoy a share of the project profits generated from redevelopment assets across Mumbai. The company is headed by Binitha Dalal and Abdeali Tambawala, who collectively possess more than five decades of experience in both real estate and fund management. With its unique investment approach, Mt. K Resi Development Fund, considered an ESG Impact Development Fund, aims to invest in 10-12 projects across the Mumbai Metropolitan Region (MMR), giving particular attention to redevelopment opportunities in partnership with Rustomjee Group.
Positive Industry Outlook Prompting Investments
Boman Irani, Chairman and Managing Director of Rustomjee Group, expressed his enthusiasm about the current state of the real estate market, emphasizing the transparency and alignment of interests between investors and developers created by the Mt. K platform. By backing this platform, Rustomjee Group is aligned with its principle of value creation for all stakeholders and sees real estate as an attractive asset class.
Speaking on behalf of Mt. K Kapital, Binitha Dalal, Founder and Managing Partner, expressed excitement about the addition of visionary investors and Rustomjee Group’s support. Delighted to have the platform recognized and trusted by investors, Dalal stated that their goal is to become a premier real estate development fund management company. Fueled by their unique market advantage, they are dedicated to directing appropriate capital into the real estate sector and remain optimistic about the investment opportunities within the MMR. The current performance of their investments and the selection of strategic locations for their projects instill confidence in their investment thesis. Moreover, as their portfolio continues to strengthen, the company plans to evaluate a pipeline of comparable projects, with deal sizes ranging between INR 60-90 CR.
