Arvind Group : Floats Rs. 200 crore Real Estate fund

The fund management company set up by promoters of the Ahmedabad based Arvind Group has floated a realty fund with a target of raising Rs. 200 crore. The fund floated by Ampulus Capital Advisors, will focus on investing in residential projects in Gujarat. The fund has already raised Rs. 100 crore with the promoter's share being Rs. 25 crore, which it hopes to start deploying from 2013 onwards. The fund closes in September, 2012.

Mr. Anuranjan Mohnot, CEO, Ampulus Capital Advisors said,  "The fund has set an internal rate of returns (IRR) of 25 to 30%. Our primary focus is on high growth areas of Gujarat, primarily Ahmedabad, Baroda &  Surat. We are also bullish on Bengaluru"

The fund is also looking to invest in brownfield redevelopment projects in residential & commercial projects in Mumbai.

Gujarat has huge investment potential as it is one of the fast growing urban states. Besides Ampulus, Kotak Realty Fund also plans to raise $ 35 crore (About Rs. 1,865 crore).
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