Kotak Realty bets Rs 350 crore on stressed property deals over a year

Kotak Realty Fund is one of the country's initial real estate PE funds

pf, mutual funds

Raghavendra Kamath Mumbai
Kotak Realty Fund, a unit of Kotak Investment Advisors, is looking to acquire stressed loans with underlying real estate, with an aim to turn them around. This is at a time when the sector is passing through one of the worst phases of liquidity crunch. 

Kotak Realty Fund has deployed over Rs 350 crore in such transactions over the last 12 months and turned them around, said Vikas Chimakurthy, chief executive of Kotak Realty fund. 

For instance, it invested in a stalled 250,000-square feet commercial project ‘One Aerocity’ in Mumbai, being developed by a gold refiner. It paid back the lender and

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First Published: Feb 28 2019 | 12:22 AM IST

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