Smartworld Developers, With Headquarters in Gurgaon, Raise INR 250 Cr For Expansion

New Delhi:

Smartworld Developers, based in Gurgaon, has received INR 250 crore from Motilal Oswal to expand its portfolio, according to a senior official.

Previously concentrated on the NCR real estate market, the real estate development company now intends to expand into significant real estate areas in some of the hottest real estate markets in India including Mumbai MMR, Pune, Bengaluru, Goa, and Hyderabad.

They anticipate developing two further premium projects in Gurgaon in Financial Year 2023.

This additional money will contribute to their further expansion.

Vivek Singhal, CEO of Smartworld Developers, said that the company is in advanced conversations with major national and international private equity (PE) companies to establish a development platform for future Smartworld initiatives.

The business, which is supported financially by India Infoline, the Piramal Group, and the Bansal family (promoters of the M3M group), plans to spend between INR 8,000 and 10,000 crore in constructing residential projects in Gurugram over the next several years.