In the twelve years that Sriniwasan, managing director, Kotak Mahindra Investment Advisors, has run the fund, it has managed to deliver returns that place it among the top five funds in India. This is significant as the vast majority of real estate funds launched in the country have gone belly up.
TDI Infracorp had last month gave an exit to Kotak Realty Fund from its housing project in Sonepat by repaying a debt of Rs 110 crore.
Kamal Khetan, CMD, Sunteck Realty, says post the Kotak exit, Sunteck City is a 100 percent subsidiary of Sunteck Realty and the company is not planning to raise any further funds for this project.
"In less than four years, Sunteck Realty managed to provide Kotak an exit for around Rs 270 crore, a return of nearly 22 percent," Sunteck Realty said in a statement here.
Some of the big-ticket investments in the last 6 months include, Singapore's GIC investing USD 300 million in DLF's upcoming projects. Two, Warburg Pincus and Goldman Sachs together investing USD 350 million in Piramal Realty
On today's Sebi norms on listing start-ups, S Sriniwasan, CEO of Kotak Realty Fund says there is significant value for start-ups to list in the home market. According to him, Sebi has tried to walk a middle-path as far as listing of start-ups is concerned.
After operating out of Ramon House since 1977, Housing Development Finance Corporation finally decided to buy an office of its own. Chairman Deepak Parekh had always considered Ramon House to be lucky.
S Sriniwasan, Kotak Realty Fund believes that for the REIT market to really work the central government has to ensure that our tax system is aligned.
Abu Dhabi Investment Authority (ADIA) plans to invest about USD 200 million in Indian real estate, two sources said, underscoring a trend for large Gulf sovereign wealth funds to diversify away from traditional developed markets such as Europe.
Parsvnath Developers will raise Rs 120 crore from Kotak Realty fund, reports The Economic Times.
A recent report by Jones Lang Lasalle suggested that the realty space in India could see over USD 2 billion worth of outflows next year, increasing the pressure on the beleaguered sector.
Real estate is probably the one asset class that has got even more bad pressed than equities, but that indeed has been the space a lot of Indian investors have both being committed to and interested in. How do you pick and choose right now? Experts answer.
Kotak Realty Fund, the property investment arm of India's Kotak Mahindra Bank, plans to raise as much as USD 500 million by the second quarter of this year, in a bet on the long term case for property in Asia's third-largest economy, a top official said.
Kotak Realty Fund, a unit of Kotak Mahindra Bank, said on Monday it sold Peepul Tree Properties, one of its property assets, to Tata Realty Fund for Rs 525 crore or about USD 117 million.