India: Motilal Oswal Real Estate plans to raise $109m for fifth fund
Photo: Pradeep Gaur/Mint Premium
Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Financial Services, is looking to raise up to $109 million (Rs 800 crore) for its fifth real estate fund India Realty Excellence Fund V (IREF V).
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IT cities will see a faster turnaround in terms of unsold housing stock
December 29, 2020
Sharad Mittal, CEO, Motilal Oswal Real Estate Fund×
Affordable housing continues to do well, says Sharad Mittal, CEO, Motilal Oswal Real Estate Fund
Residential sales are witnessing recoveries and have returned to pre-Covid levels after a tumultuous few months. People are stepping out and visiting sites. Branded developers in mid-range markets are witnessing some traction. Amid all these, prices have remained range-bound, says Sharad Mittal, CEO, Motilal Oswal Real Estate Fund.
For commercial real estate, new absorptions will depend on how the work from home (WFH) scenario and company policies around it play out over the next year, he adds.
Shares of real estate companies continued their northward movement, with the Nifty Realty index surging 4 per cent on the National Stock Exchange (NSE) on Wednesday on hopes of revival in demand. Indiabulls Real Estate advanced 17 per cent to Rs 80 on the NSE on the back of heavy volumes. A combined 17.5 million equity shares had changed hands on the counter on the NSE and BSE. Godrej Properties, DLF and Oberoi Realty were up in the range of 4 per cent to 5 per cent, while, Sobha, Sunteck Realty and Omaxe from the index were up between 1 per cent and 3 per cent on the NSE.