Over Rs 300 crore has already been earmarked for five projects in the Mumbai area through Keystone Realtors.
Mt K Kapital, a SEBI-approved Category II Alternative Investment Fund, has successfully raised Rs 500 crore for its inaugural fund focused on residential real estate development. The fund, officially named Mt. K Resi Development Fund Category II SEBI Registered Alternative Investment Fund, attracted investment from major financial institutions including SBI and ICICI Bank, as well as other high-net-worth individuals and entities like Famy Care.
The capital raised will be deployed across real estate projects in the Mumbai Metropolitan Region (MMR). Currently, over Rs 300 crore has been earmarked for five projects in the Mumbai area through Keystone Realtors, which operates under the Rustomjee Group brand.
According to the announcement, "The fund is now exercising its green shoe option and is targeting to do a final close shortly."
The investment strategy concentrates on quick-turnaround residential redevelopment projects requiring minimal equity investment, with plans to deploy across 10–12 properties throughout the MMR. The company projects internal rates of return potentially exceeding 25 per cent, citing favourable macroeconomic conditions supporting real estate market growth.
Boman Irani, Chairman & Managing Director of Rustomjee Group, emphasized that "The Mt K platform is built on the principles of transparency and alignment of interest between the investor and the developers."
