New Delhi: Industrial Investment Trust Limited (IITL), an NBFC, has announced plans to launch a Rs 500 crore Category-I alternative investment fund (AIF) focused on India’s real estate sector. With a target corpus of Rs 500 crore, the fund aims to harness growth in both residential and commercial real estate driven by robust housing demand, record-breaking office leasing, the rise of flexible workspaces, and surging domestic tourism.
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IITL’s current investment portfolio stands at Rs 405 crore (as on September 30, 2024), with diversified investments across multiple industrial sectors, with a particular emphasis on real estate. The new AIF will strategically focus on Tier 1 and Tier 2 cities, partnering with leading Grade A developers to bring high-quality residential and commercial projects to fruition, the NBFC said in a release.
IITL Launches AIF to Drive Real Estate Growth and Urban Development Across India
These cities, recognised for their economic growth potential, will benefit from investments aimed at enhancing urban development and generating value across the real estate landscape, it added. "India’s real estate sector is on a powerful growth trajectory, and we see immense potential in partnering with esteemed developers across the country. With the launch of this AIF, we aim to deliver value-driven investment options to our stakeholders while supporting urban expansion and sustainable development," said Bipin Agarwal, chairman and managing director of IITL.
The release further said IITL is engaging with several prominent developers nationwide to drive these initiatives forward. IITL is also launching a housing finance company to provide financing solutions for home buyers and property upgraders. Incorporated in 1933, IITL started as an investment trust providing expert portfolio advice to shareholders, with initial capital from prominent financial entities like Prudential and Oriental Insurance, and Indian royal families.
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