Motilal Oswal Alternates (MO Alts), the non-public fairness arm of Motilal Oswal Monetary Companies Ltd, has invested ₹260 crore ($31 million) in property developer Urbanrise-Alliance Group for the corporate’s two new initiatives in Bengaluru and one in Hyderabad.
The initiatives will span a complete saleable space of 6.2 million sq.ft. and are anticipated to generate income of ₹4,600 crore. These embrace a villa mission on Kanakapura Highway, and a high-rise condo mission in Whitefield in Bengaluru and one other condo mission in Nizampet, Hyderabad.
Motilal Oswal’s funding of Urbanrise-Alliance initiatives is “testimony to the monetary self-discipline and stability that the group has all the time displayed,” the corporate mentioned.
“We proceed to stay bullish on the mid-income housing phase in India. We hope that this funding types the inspiration of a long-standing partnership with the Alliance Group,” mentioned Sharad Mittal, govt director and chief govt officer of actual property funds, MO Alts.
Bengaluru-headquartered Urbanrise-Alliance Group has a presence in Chennai, Hyderabad, and Bengaluru.
The corporate claims to have delivered over 7,500 properties to date. It has greater than 54 million sq.ft. of initiatives beneath improvement at varied levels and an actual property portfolio price ₹33,000 crore.
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Supply: Live Mint