Mt K Kapital raises over Rs 500 cr to invest in realty projects in Mumbai

Alternative investment fund Mt K Kapital on Wednesday said it has raised over Rs 500 crore to deploy in real estate projects in the Mumbai Metropolitan Region (MMR).

In a statement, Mt K Kapital said it has raised Rs 500 crore for its maiden fund (Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund) from investors like SBI, ICICI Bank, Famy Care and other HNIs.

Over Rs 300 crore has already been committed towards five projects in the Mumbai region by Keystone Realtors (Rustomjee Group).

The fund is now exercising its green shoe option and is targeting to do a final close shortly.

Favourable macroeconomic conditions are likely to strengthen the real estate market and potentially drive expected IRRs (internal rate of returns) beyond 25 per cent, the company said.

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.