Motilal Oswal private equity invests in Urbanrise- Alliance - Urbanrise
Summary
Motilal Oswal Alternates (MO Alts), the private equity arm of Motilal Oswal Financial Services Ltd, has invested 260 crore ($31 million) in property developer Urbanrise-Alliance Group for the companys two new projects in Bengaluru and one in Hyderabad.The projects will span a total saleable area of 6.2 million sq.ft. and are expected to generate revenue of 4,600 crore. These include a villa project on Kanakapura Road, and a high-rise apartment project in Whitefield in Bengaluru and another apartment project in Nizampet, Hyderabad.Motilal Oswals funding of Urbanrise-Alliance projects is testimony to the financial discipline and stability that the organization has always displayed," the company said.We continue to remain bullish on the mid-income housing segment in India. We hope that this investment forms the foundation of a long-standing partnership with the Alliance Group," said Sharad Mittal, executive director and chief executive officer of real estate funds, MO Alts.Bengaluru-headquartered Urbanrise-Alliance Group has a presence in Chennai, Hyderabad, and Bengaluru.The company claims to have delivered over 7,500 homes so far. of projects under development at various stages and a real estate portfolio worth 33,000 crore.