Mt. K Kapital Raises Over INR 500 CR for New Fund

Mt. K Kapital announces the raise of over INR 500 CR̥ for its maiden fund (Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund) from marquee investors like SBI, ICICI Bank, Famy Care and other HNIs. Over INR 300 CR of the funds raised to date have already been committed towards 5 projects in some of Mumbai's prime locations. The fund is now exercising its green shoe option and is targeting to do a final close shortly.

The identified projects include The Panorama (Pali Hill, Bandra West), Ocean Vista (Versova Beach, Andheri West), Cliff Tower (Mt Mary Road, Bandra West), Dhuruvadi (Prabhadevi) and Crescent (Pali Hill, Bandra West). Both Panorama and Ocean Vista have received the necessary approvals, with construction in progress and active upward sales. The fund's unique investment structure allows investors to capitalise on its strong performance. Furthermore, favourable macroeconomic conditions are likely to strengthen the real estate market and potentially drive expected IRRs beyond 25%.

Mt. K Kapital’s core strategy targets quick turnaround residential projects with low equity investments and gives investors a share of project profits from redevelopment assets across Mumbai. Led by Binitha Dalal and Abdeali Tambawala, the team has over five decades of combined experience in real estate and fund management. Mt. K Resi Development Fund, an ESG Impact Development Fund plans to invest in 10-12 projects across the MMR, focusing on redevelopment with the Rustomjee Group.

Boman Irani, Chairman & Managing Director of Rustomjee Group, added, “It is an exciting time to invest in real estate. The Mt. K platform is built on the principles of transparency and alignment of interest between the investor and the developers. We believe that our structure will offer value to investors looking to capitalise on the growth of real estate as an asset class. Backing this platform aligns with our philosophy of value creation for all stakeholders.”

Binitha Dalal, Founder and Managing Partner, Mt. K Kapital, said, “We are excited to have visionary investors and Rustomjee's support in building this platform. The strong response validates our goal of becoming a leading real estate development fund management company. With a distinct market advantage, we are committed to channelling the right capital into the real estate sector and remain bullish on investment opportunities in the MMR. The current performance of our investments and the selection of strategic locations for our projects have reaffirmed our investment thesis. We are evaluating a robust pipeline of similar projects along with deal sizes between INR 60-90 CR to strengthen our portfolio.”