Motilal Oswal Real Estate commits Rs 225 crore to Hyderabad-based Phoenix this year

Hyderabad: Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Group, committed Rs 225 crore to Hyderabad-based Phoenix Group through multiple investments in the last nine months. Phoenix Group is actively involved in real estate with projects across asset classes including residential, office space, commercial or retail. The company’s completed […]

Hyderabad: Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Group, committed Rs 225 crore to Hyderabad-based Phoenix Group through multiple investments in the last nine months.

Phoenix Group is actively involved in real estate with projects across asset classes including residential, office space, commercial or retail. The company’s completed and upcoming pipeline of projects stand at about 40 million sq ft of space.

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MORE cumulatively committed Rs 1,200 crore pan-India through its platform. This amount has been committed across residential and commercial projects in Hyderabad, Mumbai, Bengaluru, Chennai, and Ahmedabad. The company plans to commit Rs 1,000 crore more by March 2022.

The real estate projects are a mix of plotted, villa and apartment projects in the affordable/ mid-income residential segment across these cities. There are also a couple of commercial projects in which the company has invested through this platform.

These investments have come on the back of a severe liquidity crunch in the real estate market post the IL&FS crisis. This was followed by the pandemic which aggravated the problem.

Sharad Mittal, CEO, Motilal Oswal Real Estate said, “We believe the current market is in an upcycle, however capital available still remains scarce to meet the growing requirements. Through our funds, we cater to the capital requirement during the entire project lifecycle i.e. land and approval financing, construction finance and last mile funding.”

“We believe that the fundamental factors combined with Government initiatives will drive housing demand even higher in the near future. We also believe that the liquidity scenario will improve going forward and the realty sector will receive the much-needed funding,” he added.

IREF V is the fifth fund launched by MORE which has recently achieved its third close at Rs 1,085 crore. The fund has made five investments till date.

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