Motilal Oswal Real Estate (“MORE”) has committed Rs 120 cr to ATS Infrastructure, a leading developer in the Delhi NCR market from its two funds India Realty Excellence Fund II & III. This marks the fourth investment of MORE with ATS Group in the last three years with MORE having committed close to Rs 300 cr with ATS group. The recent investment is in ATS Grandstand, a 1.7 mn sft residential development in Gurugram.
ATS has a proven track record of project execution & good brand equity having delivered over 11 mn sft of residential space. It has a strong brand equity on account of timely delivery and quality of construction.
Sharad Mittal, Head-Real Estate Fund at Motilal Oswal said, “This investment is in line with our philosophy of partnering with leading developers in each of the micro markets. ATS has proven strong sales and execution track record in a tough market like Delhi NCR. We endeavour to work with a preferred set of leading developer partners and are keen to have multiple relationships across their project portfolio.”
Getamber Anand, Chairman and Managing Director of ATS Group, said, “”We are happy to partner again with MORE and take forward our valuable relationship. We believe Dwarka Expressway micro-market is at the cusp of getting rerated and it is an opportune time to invest in this market.”
IREF II had recently exited from its investment of Rs 75 cr in ATS Pristine located in Noida. MORE is in midst of announcing the final close of its third real estate fund India Realty Excellence Fund III, which is ~Rs 1000 cr fund with focus on top 6 India metros under the mezzanine and structured equity strategy targeting early stage investments. India Realty Excellence Fund II has already made commitments of about Rs 650 cr and exited three transactions till date. MORE targets to invest close to Rs 1000 cr in the current financial year across both the funds