Microcap Stock Mach Conferences Soars 15% on Adani Cement Partnership News

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January 7, 2025

Microcap Stock Mach Conferences Soars 15% on Adani Cement Partnership News

Mach Conferences & Events Limited (MCEL) saw a significant surge in its stock price during Monday’s trading session, with shares jumping by 15.32 percent to reach an intraday high of ₹281.90, compared to the previous closing price of ₹244.45. The stock opened at ₹263 and is currently trading around ₹270, reflecting a strong market response to the company’s announcement of a new partnership with Adani Cement.

This collaboration is poised to enhance MCEL’s standing as a prominent event management service provider. As part of the partnership, MCEL has secured a high-profile project that will involve logistics, accommodations, and sightseeing arrangements for over 1,200 participants across Delhi, Agra, and Gujarat, with completion expected this financial year. The partnership marks a key milestone as MCEL continues to strengthen its B2C vertical. The company is also focusing on expanding its technological capabilities, with plans to hire a Chief Technology Officer (CTO) and build a dedicated tech team. However, management has taken a measured approach to expansion, ensuring a balance between profitability and growth, while capitalizing on a robust order book.

MCEL’s ability to manage large-scale, high-value events has been evident, as seen in its successful execution of a banking event in Istanbul with 550 participants, generating ₹13.5 crores, and a health insurance conference in Vietnam for 850 attendees, valued at ₹5.5 crores. The company’s strategic expansion efforts also include the opening of a new office in Kolkata, aimed at improving visibility and operational efficiency in eastern India.

Technical Issues Lead to Shutdown at Cement Plant in Fujairah

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January 7, 2025

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Technical Issues Lead to Shutdown at Cement Plant in Fujairah

A cement plant in Fujairah has temporarily suspended its operations following a technical malfunction that caused thick smoke to rise from its chimney. This incident sparked concerns about its potential environmental impact, prompting an immediate inspection by the Fujairah Environment Authority (FEA) to assess whether the facility was adhering to local environmental regulations and standards.

The technical malfunction, which occurred at the plant, raised alarms among local authorities, who were concerned about the possibility of pollutants being released into the environment. In response to these concerns, the cement plant management swiftly initiated safety protocols, including halting all operations. This decisive action was taken to prevent any further environmental risks and to allow for a thorough inspection and assessment of the plant’s infrastructure. As part of the regulatory process, the Fujairah Environment Authority conducted a detailed inspection to evaluate the environmental risks and confirm that the plant was in compliance with the stringent environmental laws governing industrial operations in the region. The facility has also been required to submit a comprehensive plan to address the technical malfunction, including a timeline for the necessary repairs and improvements.

The plan will outline the preventive measures that will be implemented to avoid similar malfunctions in the future and minimize any potential impact on the environment. The plant’s response is in line with the UAE’s commitment to environmental sustainability and industrial safety. Local authorities are working closely with the cement plant’s management to ensure that the situation is fully rectified and that operations can resume once the necessary repairs and preventive measures are in place. This collaboration highlights the importance of ongoing monitoring and compliance with environmental standards in safeguarding both public health and the environment. Authorities will continue to monitor the plant’s progress and ensure that all regulatory requirements are met before operations resume. The incident serves as a reminder of the critical need for continuous maintenance and adherence to safety protocols to minimize environmental risks associated with industrial operations.

Dharamshala Hoteliers Call for Urgent Infrastructure Improvements to Boost Tourism

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January 7, 2025

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Dharamshala Hoteliers Call for Urgent Infrastructure Improvements to Boost Tourism

Hoteliers in Dharamshala have raised serious concerns about the declining tourism in Himachal Pradesh, particularly in the Kangra-Chamba region, due to inadequate infrastructure and poor connectivity. In a recent dinner meeting with the Member of Parliament (MP) for Kangra-Chamba, Rajeev Bhardwaj, the Hotel & Restaurant Association of Dharamshala presented a memorandum highlighting the region’s struggle to compete with neighbouring tourist destinations like Uttarakhand and Jammu & Kashmir.

Ashwani Bamba, the president of the association, expressed the frustration of local hoteliers who believe that the region’s rich cultural and natural offerings, such as the Dalai Lama’s presence and numerous temples, are being overlooked by tourists due to the area’s poor infrastructure. He pointed out that the region faces a significant drop in tourism during the winter months, largely due to the lack of adequate transportation and infrastructure.

Kangra has long struggled with accessibility issues, particularly for tourists coming from major cities. The absence of a fast and efficient railway system is a major barrier, and the association is pushing for the upgrading of the Kangra-Pathankot-Joginder Nagar narrow gauge railway line to a broad gauge. This upgrade would help facilitate smoother and faster transportation for visitors, opening up the region to more tourists throughout the year. Despite its stunning natural attractions, including the Inderhara glacier, the tourism potential of the region remains underutilised due to the accessibility challenges. The association has proposed the creation of a ropeway connecting key locations, such as Bhagsunag, Truind, and Inderhara, to enhance connectivity and attract winter tourism. The ropeway, they argue, would provide tourists with an easy, scenic route to the Dholadhar ranges, allowing visitors of all ages to explore the snow-capped mountains safely and conveniently.

Given that the state of Himachal Pradesh is currently facing a financial crunch, the association has asked MP Rajeev Bhardwaj to intervene and help secure central funding for critical infrastructure projects under the Swadesh Darshan 2.0 and PRASHAD schemes. The hoteliers are requesting funding for the construction of essential facilities such as parking spaces, public conveniences, resting areas, and beautification of key tourist destinations. Although Dharamshala is part of the Smart City programme, the association claims that the city still lacks many basic amenities such as parking, sewage systems, signages, community centres, and smart mobility solutions. The association has urged the MP to push for the development of the Dharamshala Tourism Circle under the Swadesh Darshan 2.0 scheme to ensure the region’s holistic, sustainable growth.

In addition to requesting central government funding, the association also asked MP Bhardwaj to use funds under the Member of Parliament Local Area Development Scheme (MPLADS) for creating basic infrastructure in the region. The hoteliers believe that these funds could be instrumental in addressing immediate infrastructure needs, providing a more attractive and convenient destination for tourists. The meeting underscored the growing concerns of the local tourism industry and the need for significant investment in infrastructure and connectivity. With its rich cultural heritage and stunning natural beauty, Dharamshala and the Kangra-Chamba region have immense potential to become a year-round tourist destination. However, as Ashwani Bamba pointed out, unless the region’s infrastructure issues are addressed, it risks losing out to neighbouring states that are investing heavily in improving their tourism infrastructure. As the memorandum has been handed over to MP Rajeev Bhardwaj, the hope is that his intervention will help secure the funding and resources necessary to transform the region into a sustainable and attractive tourist hub for the long term.

Coastal Land Scam Exposed in Mumbai, 102 Forged Property Maps Linked to Illegal Constructions

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January 7, 2025

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Coastal Land Scam Exposed in Mumbai, 102 Forged Property Maps Linked to Illegal Constructions

A special investigation team (SIT) has uncovered a major land scam in Mumbai, revealing the manipulation of property records to convert environmentally sensitive Coastal Regulation Zone (CRZ) and No Development Zone (NDZ) lands into developable plots. The scam, which involves the alteration of at least 102 property maps, has resulted in the arrest of four individuals, including two retired government employees, and is linked to illegal construction along Mumbai’s coastline.

The investigation, initiated by the Bombay High Court, was prompted by a complaint filed in 2021 by Vaibhav Thakur, a farmer from Erangal in Malad. Thakur, who owns ancestral farmland, discovered that government records had been tampered with to classify CRZ and NDZ areas as developable zones. Despite his initial complaint, including reports to the Brihanmumbai Municipal Corporation (BMC) and the Goregaon police, little progress was made in addressing the issue. Further revelations came in 2021 when Deputy Superintendent of Land Records, Nitin Salunkhe, lodged a second FIR, uncovering that between 2012 and 2020, maps and official documents were forged to regularize illegal constructions in eco-sensitive areas. The issue gained significant attention in the Maharashtra state assembly in 2022, prompting the government to establish an inquiry committee. These findings were eventually presented to the High Court, which ordered the formation of the SIT to investigate the matter.

Under the leadership of Joint Commissioner of Police (Crime), Lakhmi Gautam, the SIT has made several arrests, including contractor Narshim Puttawallu, 50, retired City Survey Office officials Devdas Jadhav and Marade, and real estate agent Imam Shaikh. These individuals are accused of collaborating with government officials to manipulate over 100 property maps, incorporating false information such as fabricated City Survey numbers, non-existent constructions, and altered property boundaries. The forged documents were used to gain approvals for construction projects, which were then sold based on fraudulent claims, leading to significant ecological damage and loss of revenue for the government.

The investigation uncovered that 102 maps out of 884 permanent enumeration maps from 1955 to 1984 were forged. These maps depicted constructions that did not exist prior to 1964, further compounding the illegal activity. As a result of the SIT’s findings, the Maharashtra government has instructed the Principal Secretary of Urban Development and the Director of Land Records in Pune to take action against the responsible parties for the manipulation of public records. The illegal constructions on CRZ and NDZ lands have caused severe ecological damage and significant financial losses to the state, with a senior police official confirming the serious impact on the region’s environmental balance. The SIT has also summoned 18 BMC and Land Records Department officials for questioning. However, the investigation was temporarily delayed due to the election process. The authorities have vowed to continue their investigation and ensure that all those responsible are held accountable for their role in this land scam.

Environmentalists Call for Action to Halt Stone Quarrying Near Bhayandarpada Skyscrapers

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January 7, 2025

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Environmentalists Call for Action to Halt Stone Quarrying Near Bhayandarpada Skyscrapers

Environmentalists have raised urgent concerns about the safety of several skyscrapers located in Bhayandarpada, a residential area near Ghodbunder in Thane. The green groups, led by the Watchdog Foundation and NatConnect Foundation, have written to Maharashtra Chief Minister Devendra Fadnavis, calling for immediate intervention to stop the ongoing stone quarrying activity in the region. The activists warn that the constant quarrying and blasting in the area pose a significant threat to the structural integrity of the surrounding buildings.

The quarry site is located alarmingly close to residential properties, just 30 metres away from the nearest building, violating a National Green Tribunal (NGT) order issued in September 2020. The NGT had set strict guidelines requiring a 200-metre buffer zone between stone quarries and residential or public structures, with a minimum distance of 100 metres from areas where blasting occurs. According to the activists, the current quarrying operations flout these regulations, putting residents at serious risk.

The continuous quarrying and blasting activities have caused high vibrations in the area, which threaten the stability of nearby skyscrapers. Advocate Godfrey Pimenta, director of the Watchdog Foundation, explained that even a minor seismic event or tremor could trigger a landslide or building collapse. He likened the potential effect to a “house of cards” that could crumble under the slightest pressure. The green groups fear that the buildings, already compromised by the ongoing disturbances, are at high risk of structural failure. In addition to the physical risks posed by the quarrying, residents are also exposed to pollution. The high noise levels and dust pollution from the blasting and excavation work are further contributing to the deteriorating living conditions in the area. As B N Kumar, director of NatConnect Foundation, pointed out, this pollution adds another layer of concern for residents who already face risks to their safety. The activists have called for an immediate official inspection of the quarry site to assess the damage and risks it poses. They have urged the state authorities to issue a stop-work order for the quarry and initiate legal proceedings against those responsible for the violations of the NGT guidelines. The activists are also pressing for measures to safeguard the well-being of residents, including securing their homes from potential structural damage.

While the Maharashtra Chief Minister’s office has yet to respond to the letters sent by the green groups, the activists are prepared to take further action if necessary. They are considering filing Right to Information (RTI) requests with the Thane authorities to gain a clearer understanding of the permissions granted to the quarries operating in the area. Their aim is to uncover any irregularities in the approvals and hold the responsible parties accountable. For the residents of Bhayandarpada, the threat posed by quarrying activities is all too real. The fear of a potential landslide or building collapse is a constant worry for families living in the affected skyscrapers. Just recently, a similar situation occurred in Belapur, Navi Mumbai, where a building suffered a cave-in due to heavy drilling at a nearby construction site. The residents of Bhayandarpada are now understandably anxious that they could face the same fate unless urgent action is taken.

As the situation develops, the green groups are calling for swift and decisive action to protect the lives and properties of the residents. The activists’ appeal to the Chief Minister underscores the critical need for a comprehensive approach to managing urban development and ensuring the safety of communities living near such hazardous operations. The stone quarrying activities in Bhayandarpada represent a pressing environmental and safety issue that demands immediate attention. With the potential for landslides and building collapses, along with severe noise and air pollution, the residents of the area are living under constant threat. By urging the Chief Minister’s intervention, environmentalists hope to bring about the necessary legal and regulatory measures to protect lives and ensure that urban development in Mumbai’s peripheries is carried out safely and sustainably.

Macrotech Expands Its Reach with 8 New Projects

Bangalore

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January 7, 2025

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Macrotech Expands Its Reach with 8 New Projects

Macrotech Developers, widely recognised as Lodha Group, has reported impressive pre-sales of ₹4,500 crore for the third quarter of FY25, marking a 32% year-on-year growth from ₹3,400 crore in the same period last year. This record-breaking performance reflects the company’s robust strategy and effective execution across its diversified portfolio. The pre-sales numbers, according to company officials, have reached their highest ever and are indicative of the market’s growing confidence in the brand’s offerings. Furthermore, collections for Q4FY25 reached over ₹4,200 crore, registering a significant 66% increase compared to ₹2,500 crore during the same period last year.

In a further display of its strong market position, Macrotech Developers expanded its footprint in the Bengaluru real estate market with the addition of a new project valued at ₹2,800 crore. This move is in line with the company’s larger strategic focus on consolidating its presence in key metropolitan regions. As of now, the company boasts five locations in Bengaluru, positioning itself for considerable pre-sales growth in the city from FY26 onwards. Bengaluru, with its rapidly expanding tech industry and urban infrastructure, offers immense growth potential for Macrotech as it moves beyond its established bases in Mumbai and Pune.

The company’s expansion strategy continues to unfold with the addition of eight new projects in FY25 across the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, contributing a total gross development value (GDV) of over ₹19,500 crore. This substantial increase in its project pipeline is expected to bring the company closer to achieving its full-year guidance of 90% growth. Moreover, Macrotech’s continued focus on strengthening its land bank, including the recent acquisition of 33 acres for its Digital Infrastructure business in Delhi NCR, aligns with the company’s vision for sustainable and diversified growth.

While the financial growth is commendable, Macrotech Developers has also made significant strides in reducing its net debt by over ₹600 crore, bringing the figure down to ₹4,300 crore. This achievement is a testament to the company’s ability to generate strong cash flows and efficiently manage its liabilities. With a debt-to-equity ratio now well below 0.5x, Macrotech’s financial health remains robust, enabling it to focus on further expansion and development with reduced financial pressure.

Sustainability continues to be a key focus for the company. By expanding its digital infrastructure and diversifying into industrial and warehousing spaces, Macrotech is adapting to the evolving needs of urban growth. Additionally, with strategic projects like those in Bengaluru, the company is not only tapping into new revenue streams but is also contributing to the sustainability of urban growth by focusing on reducing the housing deficit in these fast-growing markets. Macrotech’s emphasis on creating mixed-use developments, alongside residential projects, also aligns with its broader goals of fostering sustainable urban development while supporting job creation and improving access to housing.

In summary, Macrotech Developers’ record pre-sales performance in Q3 FY25, coupled with its expansion into new markets and reduction in debt, demonstrates the company’s capacity to thrive in a competitive real estate landscape. The company’s commitment to sustainability and urban development continues to resonate well with investors, consumers, and industry stakeholders alike. With Bengaluru set to play an increasingly significant role in its future growth, Macrotech’s strategic focus on high-value projects and financial prudence positions it well for long-term success.

Realty Sector Pushes for Tax Benefits and Rental Housing Growth

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January 7, 2025

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Realty Sector Pushes for Tax Benefits and Rental Housing Growth

In a significant move ahead of the 2024 Union Budget, the real estate sector has called on the government to prioritise the expansion of rental housing and provide more substantial tax benefits for home loans. This appeal was made during a pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman on Monday, where industry leaders, including Niranjan Hiranandani, Managing Director of Hiranandani Group and Chairman of the National Real Estate Development Council (NAREDCO), voiced their concerns.

Hiranandani, while addressing the gathering, highlighted the increasing need for a more balanced focus in the housing sector. “Until now, the conversation has predominantly centred around ownership housing. It’s high time we look at the critical issue of rental housing as well, which has been largely neglected,” he remarked. He stressed that providing affordable and quality rental options is crucial for meeting the demands of an increasingly mobile workforce and the growing urban population.

The real estate sector’s call for change follows the government’s previous initiatives, where Finance Minister Nirmala Sitharaman had announced plans in the last Budget to facilitate rental housing for industrial workers. This included provisions for dormitory-type accommodation to be developed under public-private partnerships, supported by viability gap funding. While this was a step in the right direction, the realty sector believes that more comprehensive measures are necessary to address the broader rental housing challenge across urban India.

From a financial perspective, the industry is urging the government to enhance tax benefits related to home loans. The current tax reliefs are deemed insufficient to incentivise both homebuyers and developers to address the growing housing demand, particularly in tier-2 and tier-3 cities. These changes could include higher deductions for home loan interest, which would encourage more people to take the step towards homeownership, thus easing the pressures on both the rental and ownership housing markets. Experts argue that increasing the scope of tax benefits would make home loans more accessible and affordable, especially for first-time homebuyers in the middle-income bracket.

Sustainability remains a central concern in the real estate sector’s plea. The lack of affordable rental housing and insufficient tax benefits not only hampers the growth of the realty sector but also exacerbates urban sprawl, leading to unsustainable development. If rental housing was given a larger focus, it could reduce the pressure on greenfield developments, promote higher-density living in urban centres, and significantly reduce commuting times, thereby lowering carbon footprints. This would also support the government’s larger goals of sustainable urbanisation as outlined in its Smart Cities Mission and the National Urban Transport Policy.

In conclusion, the real estate sector’s request to shift focus towards rental housing, coupled with the demand for enhanced tax benefits for home loans, represents a push for balanced, inclusive, and sustainable growth. As India continues to urbanise, the need for equitable solutions that provide access to both homeownership and quality rental accommodation becomes more pressing. By addressing these issues in the upcoming Budget, the government can foster a more resilient real estate market and contribute to the broader vision of a sustainable, inclusive, and prosperous India.

Mhada Launches Amnesty Scheme to Facilitate Occupancy Certificates for Redeveloped Buildings

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January 7, 2025

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Mhada Launches Amnesty Scheme to Facilitate Occupancy Certificates for Redeveloped Buildings

Mumbai, the Maharashtra Housing and Area Development Authority (Mhada) has introduced an amnesty scheme to expedite the issuance of long-delayed occupancy certificates (OCs) for redeveloped buildings. This scheme is expected to benefit approximately 80 housing societies across the city, providing much-needed relief to property owners and residents.

The scheme, which is set to run until April 10, 2025, is a direct response to the challenges faced by many housing societies that were unable to pay the premium differential amount required for redevelopment. These unpaid amounts led to delays in the issuance of OCs, leaving residents in limbo. With the new amnesty scheme in place, Mhada has taken a significant step to resolve these delays, offering financial relief to those struggling with outstanding payments. One of the key features of the scheme is the complete waiver of interest charges on the differential amount, which was previously levied on the overdue payments. Housing societies will now be required to pay only the principal amount that was due. This move is expected to provide much-needed financial relief, enabling housing societies to clear their dues and receive their OCs without additional financial burden.

Additionally, the scheme offers a 75% waiver on penalties related to unauthorised construction or usage for buildings redeveloped under the 1991 Development Control (DC) regulations. This is particularly important for those societies that may have faced issues with the approval of their redevelopment projects in the past. In addition to the amnesty scheme, Mhada has also introduced significant policy reforms that will benefit property owners in these redeveloped buildings. The new policy states that maintenance charges and property taxes will now only be applicable from the date of possession, rather than from the date of allotment as was previously the case. This change ensures that property owners are not burdened with these costs during the period of delay before they can move into their new homes. Mhada’s Vice President and CEO, Sanjeev Jaiswal, highlighted that flats and plots remain under Mhada’s responsibility until possession is granted. This reform aims to alleviate financial pressures on property buyers who have had to pay maintenance charges and property taxes while still waiting for their homes to be ready for occupancy. This amnesty scheme comes as a relief to thousands of residents who have faced prolonged delays in moving into their redeveloped homes due to bureaucratic and financial hurdles. For many, securing an occupancy certificate means the end of years of uncertainty and the beginning of a new chapter in their lives. The move reflects a growing commitment from Mhada to support the city’s housing sector and address the challenges of urban redevelopment.

Housing societies that had been stalled due to financial constraints can now look forward to resolving their issues more swiftly. This initiative also strengthens Mhada’s role as a crucial player in the city’s development, helping both developers and residents navigate the complexities of redevelopment projects. As the amnesty scheme runs until April 2025, housing societies across Mumbai will have ample time to take advantage of the relief offered by Mhada, clearing dues and securing their occupancy certificates. For many, this will be the first step towards making their redeveloped homes a reality. The introduction of Mhada’s amnesty scheme marks a critical step towards streamlining the redevelopment process in Mumbai. By addressing the financial challenges faced by housing societies and introducing policy reforms, Mhada has paved the way for residents to finally obtain their long-awaited occupancy certificates. This move not only resolves issues tied to redevelopment but also ensures that property owners are treated fairly when it comes to maintenance charges and property taxes, creating a more equitable environment for the city’s residents.

Demolition of 14 buildings in Goregaon West clears way for SV Road expansion

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January 7, 2025

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Demolition of 14 buildings in Goregaon West clears way for SV Road expansion

In a significant step towards improving Mumbai’s road infrastructure, 14 buildings in Goregaon West were demolished on Monday, paving the way for the long-awaited widening of Swami Vivekanand (SV) Road. The project, essential for easing traffic congestion in this busy locality, has been held back for years due to buildings constructed before 1960, which stood in the way of the expansion. The demolition of these structures will not only alleviate congestion but is expected to greatly improve the overall traffic flow during peak hours.

SV Road, a crucial arterial route connecting various parts of the city, was previously restricted to just 12 metres in width out of the intended 27.45 metres (approximately 90 feet), causing severe traffic bottlenecks, particularly during the rush hours. The widening of the road is a key part of the Mumbai Municipal Corporation’s (BMC) urban renewal and transportation improvement initiatives. According to local civic authorities, the demolition of the 14 buildings, including notable ones like Ashish Building, Anant Niwas, and an Adani Electricity substation, has successfully cleared around 500 meters of road for smoother traffic movement.

This development has been closely tied to the P South ward’s plan for the road widening project, which had previously been delayed due to these encroachments. The P South ward, which oversees the Goregaon West locality, had issued eviction notices to the affected buildings under the road widening policy, and these notices were executed with the demolition this week. The decision to push ahead with the clearance of these properties came after a series of discussions and efforts to rehabilitate the affected residents.

As part of the city’s rehabilitation policy, residents displaced by the demolitions are receiving financial compensation or alternative housing options. This commitment to providing adequate rehabilitation solutions is a critical aspect of the project’s long-term success, aiming to balance urban development with the well-being of the community. Civic officials have highlighted that the road widening will ultimately serve not only as a solution to the traffic congestion but also as a symbol of Mumbai’s steady march towards becoming a more accessible and sustainable metropolis.

From a sustainability perspective, the project offers substantial benefits. Reducing traffic congestion will directly contribute to lower carbon emissions, fostering cleaner air quality in a region known for its heavy vehicular traffic. Moreover, the improved road network is expected to support the region’s economic growth by streamlining the movement of goods and people, thereby supporting businesses, especially in the rapidly growing commercial areas of Goregaon. By prioritising the city’s infrastructure, the BMC is not just enhancing traffic conditions but is also contributing to a larger vision of making Mumbai a more sustainable and future-ready urban space.

In conclusion, the demolition of these 14 buildings in Goregaon West marks a pivotal moment in Mumbai’s urban development narrative. With robust compensation measures in place and the promise of less congested roads, the project stands as a testament to how infrastructure improvements can benefit both the city’s growth and its residents. As the city continues to evolve, this project represents an important step towards creating a more sustainable and efficient urban environment for future generations.

Motilal Oswal Alternates Raises Rs 1,750 Crore for Sixth Real Estate Fund, IREF VI

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January 7, 2025

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Motilal Oswal Alternates Raises Rs 1,750 Crore for Sixth Real Estate Fund, IREF VI

Motilal Oswal Alternates (MO Alts), the alternative investment division of Motilal Oswal Financial Services, has successfully raised over Rs 1,750 crore for its sixth real estate fund, the India Realty Excellence Fund VI (IREF VI). This marks a significant achievement for the firm as it focuses on investment opportunities across India’s top eight cities, reinforcing its commitment to the country’s growing real estate sector.

The fund has already committed a substantial Rs 1,300 crore to developers in this financial year, with Rs 1,000 crore allocated across key markets such as Mumbai, Pune, Chennai, Hyderabad, and Kolkata. These investments target mid-income housing projects, a growing segment within India’s residential real estate market. Notable developers that MO Alts has partnered with include Ajmera Realty and Runwal Enterprises in Mumbai, Ambuja Neotia Group in Kolkata, Casagrand Group and Radiance Realty in Chennai, Mantra Properties in Pune, BSafal Group in Ahmedabad, Bhagwati & Gami Group in Navi Mumbai, and Candeur Group in Hyderabad. These collaborations are aimed at addressing the rising demand for affordable and mid-range housing across the country.

Saurabh Rathi, Managing Director and Co-Head of Real Estate Funds at MO Alts, spoke on the sector’s resilience, citing the strengthening economic fundamentals, stable interest rates, and supportive government policies. He highlighted how these conditions have led to significant growth in the residential market in 2024. Rathi expressed optimism for continued growth, driven by declining interest rates, increased home loan deployments, and ongoing infrastructure advancements. This positive outlook complements the strategic focus of IREF VI, which aims to capitalise on these favourable market conditions. In addition to these recent investments, IREF VI has already made Rs 1,000 crore in commitments across ten projects within the first 10 months of its first close. The fund has a robust pipeline of opportunities under evaluation and is nearing its fundraising target of Rs 2,000 crore, with 90% of the target already secured. MO Alts has long recognised the potential in bridging the capital gap at the early stages of real estate projects. As the sector continues to grow, the firm remains focused on making strategic investments that generate long-term value. Co-founder and Executive Chairman Vishal Tulsyan emphasised the importance of partnering with established developers to capitalise on emerging opportunities within India’s real estate market.

The platform has already made 168 investments and achieved 100 complete exits, showcasing its ability to generate returns for investors. With cumulative assets under management (AUM) of over Rs 9,500 crore in real estate, MO Alts has become a significant player in the Indian real estate investment landscape. The firm also manages a diverse portfolio across other asset classes, with more than $2 billion in AUM overall. With IREF VI, MO Alts is well-positioned to continue leveraging the momentum in India’s real estate sector, especially in the mid-income housing segment. As the fund progresses, it is expected to further strengthen its portfolio of investments across major Indian cities, providing both growth and stability to investors and contributing to the expansion of the real estate market. This achievement highlights the strong demand for alternative investments in India’s real estate market and showcases the firm’s ability to meet the needs of high-net-worth individuals, family offices, and corporates looking to tap into the country’s thriving property sector.

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