Shapoorji Pallonji raises ₹450 cr from Motilal Oswal for two projects

Motilal Oswal Group’s investments arm Motilal Oswal Alternates has committed ₹450 crore to Shapoorji Pallonji Real Estate. The investment has been made against two projects of the company.

One of the projects located in Manesar is a partially completed, leased and operational commercial project located in Manesar. The other project is a residential township project, launched in 2021 and has seen a positive sales response.

“The investment, which has been made through structured debt instruments will be utilised towards working capital for the project, repayment of debt and to achieve financial closure,” Motilal Oswal said in a statement on Monday.

Venkatesh Gopalakrishnan, CEO of Shapoorji Pallonji Real Estate, said the additional funding will strengthen the company’s growth story even more by adding significant value to its project pipeline.

 “We have recently concluded a transaction with Shapoorji Pallonji Real Estate through our platform. This marks our first investment with SPRE. The investment is in line with our strategy to partner with established and credible developers for their mid-income housing projects,” said Sharad Mittal, CEO of Real Estate Funds, Motilal Oswal Alternates.

Motilal Oswal Alternates currently manages five real estate funds and multiple standalone NCD investments. Its cumulative assets under management for real estate currently stands at more than ₹6,000 crore. In real estate, more than 100 investments have been made across more than 135 projects and secured 50 complete exits.

With a development potential of over 113 million square feet, SPRE has made inroads into most Indian cities, Mumbai, Pune, Bangalore, Gurugram, and Kolkata — with a variety of developments from luxury apartments and residences to aspirational homes for mid-income homebuyers as well as one of the largest mass housing projects in India.