Certus Capital, an institutional real estate investment and advisory firm, has invested Rs 80 crore in a premium residential project developed by Techno Group, Fortune Realty, and Gala in Mumbai’s Worli locality.
Based on present property rates in the locality and its proximity to the upcoming Ritz Carlton Hotel, the project Aakasa is estimated to have a revenue potential of approximately Rs 350 crore.
The planned development already has the proper approvals, including those from the Maharashtra Real Estate Regulatory Authority (MahaRERA).
The investment from Certus Capital will go towards financing the project’s construction. With this transaction, the real estate investment company has spent more than Rs 100 crore in this micro-market over the previous six months.
“Real estate credit is our highest conviction theme now driven by the robust rebound in the residential sector and lack of capital availability. In general, there is a desperate need to deepen our bond markets, given today 98% of bond market participation is only in AAA and AA bonds,” said Ashish Khandelia, founder of Certus Capital and Earnnest.me.
According to Khandelia, it would be essential to democratize credit availability across the board as India’s GDP grows to $5 trillion.g
Sushant Vaishnav, a partner at the real estate-focused investment banking firm Siya Capital, advised on the transaction.
Certus and its team typically hold 5–10% of the total. The remaining co-investing comes from individuals, HNIs, family offices, and financial institutions through Earnnest.me, its secured fixed-income investment platform.
Through Earnnest.me, more than 300 investors have invested in various secured credit opportunities, with a 50% repeat rate. The cash-on-cash return on investments offered through the company’s platform was above 15% in 2022–2023.
