Motilal Oswal Real Estate Fund invests with Shriram Properties in Bangalore

motilalostwalBy Accommodation Times News Services

January 2015: India Realty Excellence Fund II (IREF II) managed by Motilal Oswal Real

21st Estate Investment Advisors Private Ltd has invested INR 67 Crs with Shriram Properties. The

investment is at SPV level for the development of a mid income residential project located off

Old Madras Road in Bangalore. The project is spread across 19.5 acres with total development

potential of approx. 2 million sq. ft. The project was launched recently and has witnessed a

good response.

Mr Sharad Mittal, Director and Head, Motilal Oswal Real Estate said “We are pleased to

partner with Shriram Properties, one of the leading developers in South India and look forward

to a long term association with the Company. We are positive on Bangalore residential real

estate market, particularly mid-income housing segment, due to the sustained absorption level

backed by affordable prices and expansion of IT/ITeS sector”

Speaking on the occasion, M. Murali, Managing Director of Shriram Properties Private

Limited said, “The project under reference is a joint venture development of Shriram

Properties with Garden city Reality Private Limited. This investment by Motilal Oswal Real

Estate Fund is yet another testimony to Shriram Properties’ focus on good governance,

transparency and commitment to the customers. We value the investment from Motilal Oswal

Real Estate Fund which has enabled us to unlock the land bank potential and will not only

strengthen us financially but also provide us a spring-board to launch into the next cycle of our

growth. Our partnership with the Motilal Oswal Real Estate adds to the company’s brand and

track-record of having high quality partners and positions Shriram Properties favourably for an

IPO in the near future”

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