MUMBAI: Institutional real estate investment firm Certus Capital has invested Rs 150 crore across two mid-market real estate projects in Mumbai Metropolitan Region (MMR) of real estate developers JSB Group and Dynamix Group.
These mid-income housing projects near Mumbai international airport and extended western suburb of Vasai have an aggregate development of 385,000 sq ft and revenue potential of over Rs 750 crore.
The investments, made for Earnnest.me, the digital, secured debt platform of Certus Capital, are in line with the firm’s goal to invest around Rs 1,000 crore in the form of secured credit in the real estate sector, by the end of this financial year.
“These investments are in line with our strategy of supporting experienced developers in high-potential projects across tier-1 cities. And in doing so, we are also playing our part in the development of a broader high-yield, bond market, starting with real estate. These are institutionally assessed and diligenced deals, available to both individuals and institutions,” said Ashish Khandelia, founder, Certus Capital & Earnnest.me.
In the last three years, Certus Capital has closed nine deals for Earnnest.me and fully exited two at over 15% net returns to the investors, ahead of scheduled maturity.
With these two deals, Certus Capital has invested around Rs 450 crore since January this year and it expects to close 2024 with total investments of Rs 600 crore, a six-times growth as against the last year investments, Khandelia said.
The company has financed projects across cities like Mumbai, Pune and Chennai and is actively evaluating real estate investment opportunities in Bengaluru and Hyderabad.
The platform has a 77% repeat investment interest. Recently, the platform started its institutional participation channel also, with a large institutional investor with assets under management exceeding Rs 1 lakh crore, investing Rs 50 crore in one of its deals.
