Smartworld Developers raises Rs 800 cr from Kotak Realty Fund for two projects in Gurugram

Realty firm Smartworld Developers has raised Rs 800 crore from Kotak Realty Fund to build two ongoing housing projects in Gurugram.

In a statement on Friday, Smartworld Developers, an affiliate of realty firm M3M India, said the company has formed a partnership with Kotak Realty Fund, the real estate arm of Kotak Alternate Asset Managers Ltd.

"Under Phase I, Kotak Realty Fund will invest approximately Rs 800 crore in Smartworld Sky Arc and Trump Residences, Sector 69, Gurugram," the company said.


In these two projects, Smartworld expects a total sales revenue of Rs 8,200 crore.

In April last year, Smartworld Developers and Tribeca Developers launched an ultra-luxury residential project in Gurugram under the 'Trump' brand with a total investment of around Rs 2,200 crore.

The project -- 'Trump Residences'-- comprises 298 units with a total saleable area of 12 lakh square feet.

M3M India and Smartworld Developers have built many projects in Delhi-NCR and adjoining cities.