Journey of Growth: Motilal Oswal Alternates’ Sixth Real Estate Fund Achieves ₹2,000 Crore Milestone

The Growth Story: Motilal Oswal Alternates’ Real Estate Triumph

In the vibrant landscape of Indian real estate, a remarkable chapter is unfolding. Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group, has successfully closed the sixth edition of its Indian Realty Excellence Fund (IREF-VI). This achievement signifies not just the closing of a fund, but the weaving of a stronger fabric in India’s real estate credit market.

A Record-Breaking Fundraise

IREF-VI raised commitments totalling ₹2,000 crore, a resounding 65% leap over its predecessor. This makes it one of India's largest and fastest domestic capital raises in the real estate credit domain—a testament to burgeoning investor confidence and the platform's distinctive vision for growth.

The Confidence of Family Offices & HNIs

A significant share of this capital was sourced from domestic family offices and Indian high-net-worth individuals, fortifying the narrative that homegrown conviction in real estate credit is stronger than ever. The fund also attracted global capital, with commitments flowing in through the GIFT City route, underscoring a rising tide of international faith in India’s property market.

A Widespread Canvas of Opportunity

With 75% of the fund already allocated to 15 diverse projects across major metros like Mumbai, Pune, Chennai, Bengaluru, Hyderabad, and Kolkata, Motilal Oswal Alternates is collaborating with some of the country’s leading developers, such as:

• Ajmera Realty
• Runwal Enterprises
• Ambuja Neotia Group
• Casagrand Group
• Radiance Realty
• Mantra Properties
• Assetz Group
• Akshar Group
• Bhagwati Group
• ASBL Group

The portfolio’s heartbeat is mid-income residential developments, catering to the mounting aspirations of India’s urban homebuyers.

Proven Performance: Early Exits and Strong Returns

Showcasing its execution prowess, MO Alternates has already recorded the first exit from IREF-VI, delivering an exceptional internal rate of return (IRR) of 20.25%.

Strength in Scale & Experience

Since 2024 began, the platform has committed upwards of ₹2,500 crore across 35+ residential projects and celebrated fully realized exits in over 30 investments, with total divestments topping ₹2,200 crore.

Motilal Oswal Alternates’ real estate assets under management now exceed ₹10,000 crore, reflecting successful stewardship across six real estate funds and numerous co-investments. In its lifetime, the platform has made more than 180 investments and orchestrated over 110 complete exits. Across its verticals in real estate and private equity, the business now manages over $2 billion in cumulative AUM.

Industry Voices & Vision

Saurabh Rathi, Managing Director & Co-Head (Real Estate), notes that credit demand for land acquisition is surging, driven by heightened demand for homes, rising land prices, and fewer sources of structured capital. As traditional lenders face stricter regulations, alternative credit platforms like MO Alternates step in to bridge funding gaps, delivering custom solutions for developers and fortifying confidence in the sector.

Anand Lakhotia, MD & Co-Head (Real Estate), reiterates the brand’s deep commitment to discipline, transparency, and top-tier performance.

CEO Vishal Tulsyan adds that deep domain expertise and a solid governance framework set MO Alternates apart in alternative asset management, with a relentless quest to deliver consistent returns through cycles.