Arnya Real Estates Fund Advisors, in partnership with real estate developer Supreme Universal, has completed the first close of its Arnya Real Estate Fund—Equity and secured investment commitments worth Rs 1,030 crore from domestic and international investors. The fund will deploy the capital across residential real estate projects in Mumbai and Pune.
Sharad Mittal, founder and chief executive officer of Arnya Real Estates Fund Advisors, explained that the firm is already exploring redevelopment opportunities in Mumbai. He said, “There are a couple of redevelopment transactions under negotiation, and we will start looking at those transactions as soon as we do the first close. The larger focus of the fund is to look at redevelopment as a strategy in Mumbai.”
Mittal further noted that the company has raised most of the capital from domestic investors. However, the fund has also attracted selective participation from investors in the Middle East and Singapore. He added that the investor base mainly consists of family offices and high-net-worth individuals.
Arnya launched the fund in November 2025 with a target corpus of Rs 1,250 crore. The company now expects to complete the final close within the next two months. Meanwhile, both partners have contributed a total sponsor commitment of Rs 220 crore to the fund.
Mittal also outlined the firm’s investment strategy and scale of deployment. He said, “From a portfolio creation perspective, we are looking at approximately eight to 10 transactions in total. On average, each investment would be between Rs 125 crore and Rs 150 crore. This fund has a seven-year life.”
Currently, Arnya manages assets worth nearly Rs 1,800 crore. Under the partnership, Supreme Universal will take responsibility for executing the residential development projects supported by the fund.
Sunny Bijlani, joint managing director at Supreme Universal, highlighted the importance of institutional capital in the evolving real estate market. He said, “As the real estate sector evolves, the quality and structure of capital have become as important as execution capability. Institutional partnerships such as this bring discipline, transparency, and long-term alignment into redevelopment projects. Together, we are building a model where institutional capital and on-ground execution expertise converge to deliver premium projects for homeowners and consistent outcomes for investors.”
Mittal also clarified that Arnya currently operates through two investment strategies: debt and equity. He said, “This equity platform is what is keeping us busy right now. In the next financial year, we will see if any interesting opportunity comes up to plan something new.”
Arnya’s successful first close reflects strong investor confidence in structured real estate investment platforms focused on redevelopment opportunities. With institutional capital, strategic partnerships, and a clear focus on premium residential projects in Mumbai and Pune, the fund aims to create value for homeowners while delivering stable returns for investors over the next seven years.
