The Fund had invested Rs 150 crore in the project 'Sunteck City' spread across 23 acre in Goregaon during the acquisition of 16 acre land in 2012.
"In less than four years, Sunteck Realty managed to provide Kotak an exit for around Rs 270 crore, a return of nearly 22 per cent," Sunteck Realty said in a statement here.
"We have always been able to provide exits to private equity partners successfully. We have grown with a good mix of debt and equity in the past which has helped us to keep our debt levels low and optimise cost of funding for growth," CMD Sunteck Realty Kamal Khetan said.
Kotak Realty Fund's Chief Executive S Sriniwasan said the company managed to exit the project successfully.
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"We could participate at an early stage in this city-centric project with a good brand and could exit in a timely manner with good returns. We continue to look for such opportunities and would try to maximise the return for our investors going forward as well," he said.
After its success in the central business district of Bandra Kurla Complex (BKC), Sunteck is betting big in the micro-market of Goregaon (West), a fast developing commercial hub for the banking and financial sector.
"We hope to create similar value for our customers and stake holders in Goregaon as it created in BKC," Khetan added.