Motilal Oswal Alternates (MOA), the alternative investments arm of Motilal Oswal Group, said it had made an investment of ₹450 crore in two projects of Shapoorji Pallonji Real Estate.
While one is a partially completed, leased and operational commercial project located in Manesar, the other one is a residential township project started in 2021 and had 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,” MOA said in a statement.
Sharad Mittal, CEO, Real Estate Funds, MOA said, “This marks our first investment with SP Real Estate. The investment is in line with our strategy to partner with established and credible developers for their mid income housing projects.”
Venkatesh Gopalakrishnan, CEO, Shapoorji Pallonji Real Estate said, “The additional funding will strengthen our growth story even more by adding significant value to our project pipeline.”
