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Motilal Oswal Real Estate Fund invests with Ahuja Developers in Mumbai and Mahaveer Group in Bangalore

Mumbai 03-Apr-2014

India Realty Excellence Fund II LLP (IREF II), managed by Motilal Oswal Real Estate Investment Advisors Pvt. Ltd. (MORE), has announced two investments worth INR 100 crore, one in Mumbai with Ahuja Developers and another in Bangalore with Mahaveer Group.

MORE has made its maiden investment from IREF II with Ahuja Developers in their upcoming residential project Prasadam at Ambernath (E). Ambernath is one of the fastest growing extended suburbs in MMR with excellent road & rail connectivity and good social infrastructure driving the demand. The project received an overwhelming response to its launch. “Our association with Motilal Oswal Real Estate (MORE) for project Prasadam in Ambernath stems from the company’s vision to partner with credible and long term institutional investors,” said Gautam Ahuja, MD, Ahuja Developers. 

In Bangalore the Fund has invested with Mahaveer Group in two residential projects located in Yelahanka and Bommanahalli. Yelahanka, in north Bangalore is an emerging location, which is rapidly expanding due to the international airport. The second project is located at Bommanahalli in south Bangalore, which is an established mid-income residential location with social infrastructure in place. “We are happy to associate with Motilal Oswal Real Estate (MORE) for the development of these projects and are looking forward to build a long term relationship”, said Praveen Kumbala, Founder & Managing Director, Mahaveer Group. 
“Both the transactions are in line with the Fund’s strategy of doing Mezzanine structures with developers having proven track record. We are glad to associate with credible names like Ahuja and Mahaveer,” said Sharad Mittal, Director & Head Real Estate Investments, Motilal Oswal Real Estate (MORE) 
Vishal Tulsyan, MD & CEO, MOPE Investment Advisors said, “Real Estate is one of our focus areas, where we see good opportunity for generating alpha returns for our investors.”       

About Motilal Oswal Private Equity Business
Motilal Oswal Real Estate Investment Advisors Pvt. Ltd. (MORE) is a wholly owned subsidiary of MOPE Investment Advisors Pvt. Ltd. (formerly known as Motilal Oswal Private Equity Advisors Pvt. Ltd.) 

MOPE is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Private Equity, Private Wealth Management and Investment Banking. MOPE has raised two growth capital funds [India Business Excellence Fund-I (IBEF-I) and India Business Excellence Fund-II (IBEF-II)] and a real estate fund, India Realty Excellence Fund (IREF) to invest in real estate projects. IBEF-I is a US$ 125 mn (Rs. 550 crore) sector agnostic India focused private equity fund. IBEF-I has an investment focus of providing growth capital to mid market companies, typically in the range of US$ 5-15 million, across sectors. IBEF has invested in 13 companies across sectors such as food processing, bulk packaging, power transformers; power infra enablers, EPC, engineering goods, ITES, financial services, EMS, auto components, etc. IBEF –II is a US$ 155 mn (Rs. 950 crore) sector agnostic fund aimed at providing growth capital to Indian mid market companies. The fund intends investments typically in the range of $8 million to $15 million. The fund has already made two investments till date.  MOPE raised IREF-I in 2008, a Rs. 2 bn domestic real estate fund focused on investing in real estate projects in metros and tier-1 cities in India. The fund has made seven investments.

About Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Ltd. (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,484 business locations spread across 527 cities and the online channel to over 773,716 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in Asia Money Brokerage Polls for India. MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the ‘Best Market Analyst’ Award for 2 sectors at the India’s Best Market Analyst Awards 2011. MOFSL won the ‘Best Capital Markets and Related NBFC’ award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011. MOSL also won the ‘Best Equity Broking House’ award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011. MOSL won the ‘Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2012, for the 2nd year in a row. MOSL won ‘Best Equity Broker’ award at Bloomberg UTV Financial Leadership Awards 2012, ‘Retailer of the Year (Banking & Financial Services) award at Retail Excellence Awards 2012, and was ranked 2nd in the “Best Overall Brokerage” category by Asia Money in 2011. Motilal Oswal Private Equity won ‘Best Growth Capital Investor-2012’ award at the Awards for Private Equity Excellence 2013. MOSL was adjudged amongst the Top 20 innovators in BFSI for ‘Leveraging on technology in enhancing customer experience’ at the Banking Frontiers Finnovity Awards 2012, and won the ‘Quality Excellence for Best Customer Service Result’ award at National Quality Excellence Awards 2013 

For more information please contact: 
Alpesh Nakrani / Anirudh Rajan  
Paradigm Shift Public Relations
Mob: +91 9869121167 / +91 9892343828    
Tel:  +91 22 22813797 / 98

Mr. Hari Krishnan
Motilal Oswal Asset Management Company Ltd
Mob:  +91 9820520392
Ph: +91 22 39825500