Motilal Oswal Realty Fund exits Bengaluru project with 30% return

The fund had invested Rs 40 crore in two of the company's projects in March 2014

Motilal Oswal Real Estate (MORE) fund said today that it has exited from its investment in two of the projects of Mahaveer Developers in Bengaluru.

The IREF II, which had invested Rs 40 crore for their two projects in Bengaluru in March 2014, has exited this investment with a return of 30%.

“Bengaluru has been the best performing market in India over last couple of years. Mahaveer is an established developer in Bengaluru and its projects have performed really well, which has resulted in garnering healthy IRRs for the fund” said Sharad Mittal, director and head, real estate fund, Motilal Oswal Real Estate in a release.

 

MORE also recently invested Rs 58 crore with Kolte Patil Developers in Pune and Rs 56 crore with Skylark Mansions in Bengaluru.