MUMBAI: Motilal Oswal Real Estate (MORE), the realty private equity arm of Motilal Oswal group, has invested more than Rs 300 crore across three transactions with realty developers in Mumbai, Pune and Chennai through two funds. These investments have been made in affordable and mid-income residential projects of SD Corp, a joint venture between Shapoorji Pallonji and Dilip Thacker Group in Mumbai, Casagrand Group in Chennai, and Mont Vert Developers in Pune.
It is MORE’s first investment with SD Corp and Mont Vert.
The investments come at a time when there is a liquidity crunch in the real estate market with non-banking finance companies and housing finance companies focusing on quality and liquidity of their assets.
“Due to the tightening liquidity in the money market, fresh disbursements to developers have slowed down considerably,” said Sharad Mittal, CEO, Motilal Oswal Real Estate. While this has increased our deal flow over the past two months, we are being cautious and selective in investments,” said Sharad Mittal, CEO at MORE.
The PE firm made these investments through its India Realty Excellence Fund III and India Realty Excellence Fund IV.