Kotak Realty Fund invests Rs 800 crore in Smartworld Sky Arc and Trump Residences

New Delhi: Kotak Realty Fund, the real estate arm of Kotak Alternate Asset Managers Limited has invested Rs 800 crore in Smartworld Sky Arc and Trump Residences, Sector 69, Gurugram.

The fund infusion is part of a partnership with Smartworld Developers, promoted by the Bansal Family and an affiliate of M3M India.

Under Phase I, the investment represent a Gross Development Value (GDV) of over Rs 8,200 crore.


“India’s luxury residential market is undergoing a structural transformation, with institutional capital increasingly backing developers that combine product quality, execution and governance. Kotak Realty Fund’s partnership with Smartworld is a strong endorsement of the platform we have built. We enter this relationship from a position of financial strength, with the ambition to scale it well beyond Phase I,” said Pratik Tibrewala, SVP & Group Head – Corporate Finance & Banking, M3M India Group.

Kotak Realty Fund has invested across Indian real estate cycles for more than two decades. Its latest fund closed at nearly USD 1 billion, anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), alongside the National Pension Service of Korea.

Smartworld has built a position in premium and branded residences, with developments associated with global names including The Trump Organization and ELIE SAAB. Its wider Bansal Family platform has also collaborated with Jacob & Co., helping build one of India’s most distinctive branded-residences portfolios.

Smartworld Sky Arc has already recorded approximately 94% sell-through across 2.6 million sq. ft. of saleable area. The company has historically funded development through internal accruals, with fully paid, unencumbered land and a virtually net debt-free development platform.

“This partnership brings together institutional capital, disciplined execution and a shared long-term vision,” said Yateesh Wahaal, Group Whole-Time Director, M3M India Group.

Smartworld develops premium, luxury and branded residential communities across Delhi NCR. Its portfolio includes Smartworld One DXP, Smartworld The Edition, Smartworld Sky Arc, Trump Residences, Smartworld Nature’s Court and Smartworld Residences by ELIE SAAB.

M3M and Smartworld together rank amongst India’s Top 5 real estate developers, with projects launched representing Rs 1.28 lakh crore+ GDV, over 31.8 million sq. ft. delivered and more than 55.8 million sq. ft. under construction. The platforms have committed a Rs 10,000 crore capital expenditure programme for FY2027.