WSB Real Estate Partners, a fund manager, has invested over Rs 300 crore in three property developers from its newly-launched ‘Mumbai Opportunities Strategy’.
The fund manager does early-stage pre-approval deals, which banks and non banking financial companies are barred from doing, but alternative investment funds are allowed. The funds have been raised from multiple investors, said Vimal Jangla, managing partner, WSB said.
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WSB has invested in Notandas Realty, Vijay Khetan Group and Bagasrawala Corporation in Mumbai. It does structured equity deals with internal rate of return (IRR) of over 25%.
WSB is planning to invest Rs 500 crore in FY26 and is in the process of identifying investments for the next round of funding.
“Post-Covid, Mumbai real estate is on a sustainable upward trajectory. Infrastructure is going to provide impetus to quality housing. We see good opportunities in pre-approval stage funding to projects,” Jangla said.
The returns are back ended which means returns come to the investment manager after the construction of projects.
He said the tax concessions in the Budget is expected to be positive for mid-market housing projects in cities such as Bengaluru where the average housing price is Rs 1 crore and in Mumbai it is Rs 2.2 crore.
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“Any surplus in income will add to net savings and improve affordability,” he said.
Virendra Gala, a board member and sponsor of WSB India, said, “Mumbai’s robust economy, characterised by a growing GDP, continues to attract businesses and individuals, fuelling real estate demand. Mumbai continues to be a hub of opportunity, with strong economic growth fueling the real estate sector.”
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