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Residential real estate platform NEOLIV, led by former Godrej Properties' MD and CEO Mohit Malhotra, is said to raise the entire USD 150 million (INR 1,500 crore) for its inaugural fund, Inliv Real Estate Fund, within the next 12 months. The company has already secured INR 300 crore for the first close of the fund. The proceeds from the maiden fund will be directed towards developing middle-income residential properties in the Mumbai Metropolitan Region and Delhi National Capital Region, as well as plotted opportunities in tier-II cities. NEOLIV, founded by Malhotra and backed by 360 ONE, aims to leverage its pipeline of projects to deploy the capital swiftly, with a focus on investments from ultra-high net worth individuals and family offices.
NEOLIV plans to fund 3-4 projects from the first close and approximately 8-10 projects from the maiden fund. Notably, around 50% of the capital raised will be allocated to plotted development. The company has identified promising land parcels in various locations including Lucknow, Jaipur, Sonipat, Alibaug, and Chembur and western suburbs of Mumbai. Discussions for land acquisition are at an advanced stage, indicating imminent closures on one or two projects soon.
In a recent announcement, NEOLIV disclosed that the first scheme of its Securities and Exchange Board of India (SEBI) registered category II Alternative Investment Fund, 'Inliv Real Estate Fund,' completed its initial closing with over INR 300 crore of its maiden fund raise. The company expressed confidence in achieving its target corpus of INR 1,000 - 1,500 crore well ahead of its two-year limit. The fund has gathered participation from family offices and ultra-high net worth individuals across the country, reflecting strong investor interest in the residential equity fund.
Founded by Mohit Malhotra, NEOLIV has received investment from 360 ONE, a wealth and alternatives-focused asset management firm with over USD 50 billion Asset Under Management (AUM). The integrated platform combines fund management and in-house development capabilities, which commenced operations in January 2023. Karan Bhagat, Founder, MD & CEO of 360 ONE, expressed satisfaction in being the sole manager and advisor for NEOLIV's maiden fundraise, highlighting the active participation and firm commitments from investors across various cities.
Furthermore, NEOLIV's unique business model emphasises a partnership-driven approach, aiming to bring back joy to the homebuying journey and homeownership experience. Notably, key management team members, with extensive experience in reputed real estate development companies, are equity partners in the business, demonstrating long-term commitment and expertise.
Mohit Malhotra's illustrious career at Godrej Properties, where sales grew by 30X and the market cap increased by 6X during his tenure as MD and CEO, highlights his leadership in the real estate sector. Despite challenges such as rising property prices and mortgage rates, the Indian residential real estate market remains resilient, with sustained growth anticipated for years to come. NEOLIV's strategic partnerships, strong investor interest, and robust project pipeline position it well to capitalise on these opportunities and deliver on its promise of quality housing development across key cities in India.
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