MUMBAI: Arnya Real Estate Fund Advisors, in partnership with realty developer Supreme Universal, has raised over Rs 1,000 crore from domestic and offshore investors as the first close of its Alternative Investment Fund (AIF), the Arnya Real Estate Fund – Equity.The fundraise assumes significance as institutional capital platforms focused on equity investments in Mumbai’s residential redevelopment projects remain relatively limited, with most real estate funding in the segment typically structured as debt.The Category II AIF, with a target corpus of Rs 1,250 crore, will focus on deploying capital across redevelopment-led housing projects across Mumbai and Pune. The fund, set up in November, has received commitments from domestic and offshore family offices and ultra-high-net-worth individuals.“A strong first close within three months reflects conviction in investment philosophy, disciplined underwriting approach, and execution capabilities. This equity fund marks our second strategy, following the robust investor response to our realty debt fund. The objective is to build a focused, institutional realty asset management platform led by experienced investment professionals, ensuring strong alignment of interests and disciplined capital allocation,” Sharad Mittal, Founder & CEO, Arnya Real Estates Fund Advisors, told ET.Redevelopment-led projects in Mumbai offer scalable opportunities as several older housing societies across the city are expected to undergo redevelopment over the coming years.Live Events“As the real estate sector evolves, the quality and structure of capital have become as important as execution capability. Institutional partnerships such as this bring discipline, transparency, and long-term alignment into redevelopment projects,” said Sunny Bijlani, Joint MD, Supreme Universal. “We are building a model where institutional capital and on-ground execution expertise converge to deliver premium projects for homeowners and consistent outcomes for investors.”The platform combines Arnya’s real estate investment management capabilities with Supreme Universal’s execution experience in redevelopment projects in Mumbai and Pune. The fund with a seven-year tenure will primarily focus on projects in established residential neighbourhoods where ageing housing societies are being redeveloped into new residential buildings.“Redevelopment is not merely about constructing buildings, it is about transforming communities and enhancing urban infrastructure. With Arnya as our investment partner, we are further strengthening our ability to undertake large-scale, well-capitalized redevelopment projects, unlocking meaningful value in Mumbai’s evolving residential ecosystem,” said Vishal Jumani, Joint MD, Supreme Universal.Across Arnya’s debt fund and co-investments, the Assets Under Management (AUM) currently stands at Rs 700 crore. Of this, Rs 425 crore is committed across seven transactions with residential developers across Mumbai, Pune, Bengaluru and Chennai, including GAMI Group, Casagrand, Vaishnavi Group, MAIA Estates, Vertex Vega Group, and Kumar Corp.“Our focus remains on curated, high-relevance realty investments through a regulated and transparent structure. Over the coming quarters, we intend to introduce additional differentiated offerings , enabling investors to participate across various real estate opportunities,” said Ramandeep Sassi, Chief Business Officer, Arnya Real Estates Fund Advisors.Mumbai’s redevelopment segment has emerged as a key area of activity in recent years due to limited availability of greenfield land parcels and the large stock of ageing residential buildings eligible for redevelopment. These projects involve developers reconstructing housing societies while providing existing residents with new apartments and creating additional saleable inventory.The Indian residential housing market continues to attract significant institutional interest, driven by steady end-user demand, improving affordability, and supportive regulatory policies. Investors are increasingly deploying capital across mid-income and premium segments, while developers in top cities are seeing robust funding for early-stage and ongoing projects.



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