Mt K Kapital Raises Over Rs 500 Crore for Real Estate in Mumbai

Mt K Kapital has successfully raised over Rs 500 crore for real estate projects in the Mumbai Metropolitan Region (MMR). SBI, ICICI Bank, and other investors have contributed to their Category II SEBI registered Alternative Investment Fund. With favorable market conditions, the fund aims to exceed 25 percent internal rate of returns.

Mt K Kapital announced on Wednesday that it has raised over Rs 500 crore to invest in real estate projects within the Mumbai Metropolitan Region (MMR).

In a statement, the company revealed that the Rs 500 crore had been raised for its inaugural fund, Mt. K Resi Development Fund, from prominent investors including SBI, ICICI Bank, Famy Care, and other high-net-worth individuals.

Approximately Rs 300 crore has already been allocated to five projects in the Mumbai region, spearheaded by Keystone Realtors (Rustomjee Group). The fund is now utilizing its green shoe option to close shortly.

Favorable macroeconomic conditions are expected to bolster the real estate market, potentially driving internal rates of return (IRR) beyond 25 percent, according to the firm. Mt K Kapital's primary strategy focuses on quick-turnaround residential projects with minimal equity investments, offering investors a portion of project profits from redevelopment assets across Mumbai.

The Alternative Investment Fund plans to invest in 10-12 projects across the MMR, concentrating on redevelopment with the Rustomjee Group.

Commenting on the strategy, Boman Irani, Chairman & Managing Director of Rustomjee Group, said, 'The Mt K platform is built on the principles of transparency and alignment of interests between the investor and the developer. We believe our structure offers significant value to investors aiming to capitalize on the growth of real estate as an asset class.'

Binitha Dalal, Founder and Managing Partner of Mt K Kapital, added, 'With a unique market advantage, we are committed to channeling the right capital into the real estate sector and remain optimistic about investment opportunities in the MMR.' Mt K Kapital specializes in real estate-focused fund management and holds a SEBI-approved Category II Alternative Investment Fund license.

(With inputs from agencies.)