The total funds committed toward five Mumbai-based projects exceed Rs 7,300 crore. The company is currently exercising its green shoe option.
Mt. K Kapital announced it has raised over Rs 500 crore for its maiden fund — the Mt. K Resi Development Fund, a SEBI-registered Alternative Investment Fund. The capital came from prominent investors including SBI, ICICI Bank, Famy Care, and various high-net-worth individuals.
The total funds committed toward five Mumbai-based projects exceed Rs 7,300 crore. The company is currently exercising its green shoe option and targeting a final close in the near term.
The five Rustomjee Group projects are located in strategic Mumbai neighbourhoods: two in Pali Hill, Bandra West; one each in Versova, Mt Mary Road in Bandra West; and Prabhadevi.
Binitha Dalal, Founder and Managing Partner, stated: "We are excited to have visionary investors and Rustomjee's support in building this platform." She added that the firm is evaluating additional projects with deal sizes between Rs 60–90 crore.
Two of the five projects have received necessary approvals, with construction underway and active sales. The firm's strategy focuses on quick-turnaround residential projects requiring low equity investments.
Boman Irani, Chairman and 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."
