Motilal Oswal Alternatives to Fund INR 450 Cr in Two Shapoorji Pallonji Real Estate Projects

Mumbai:

Motilal Oswal Alternates (MO Alts), the company's alternative investments department, has committed to invest 450 crore in two Shapoorji Pallonji Real Estate projects.

SP Infocity in Manesar is a commercial project, whereas Shapoorji Pallonji Vanaha is a residential project in Pune's Bavdhan neighbourhood.

Shapoorji Pallonji Vanaha is a township project that was announced in 2021 and received an enthusiastic response from customers.

SP Infocity is a partially constructed, leased, and operational 1,100,000-square-foot commercial complex.

This is their first investment in Shapoorji Pallonji Real Estate, according the CEO of Real Estate Funds, MO Alternates, Sharad Mittal. This investment aligns with their intention to engage with renowned and experienced developers on their middle-income housing projects. He anticipates that this investment will facilitate a partnership with Shapoorji Pallonji Real Estate.

The investment given by Motilal Oswal Alternates via structured debt instruments will be utilised for the project's working capital, loan repayment, and financial close.

CEO of Shapoorji Pallonji Real Estate Venkatesh Gopalakrishnan said that they appreciate Motilal Oswal Alternates' participation in their projects. This indicates the faith the corporation has in its brand. By substantially increasing the value of their project pipeline, the funds will contribute to our growth story.

Motilal Oswal Alternates now manages five real estate funds as well as a number of non-convertible debenture (NCD) assets.Using its own cash, it has collaborated with prominent Indian developers such as Casagrand Builders, M3M- Smartworld Group, Kolte Patil Developers, Shriram Properties, Phoenix Group, Ashwin Sheth Group, and Marathon Group.