 "Infrastructure")
Private equity fund Motilal Oswal Real Estate today said it will invest Rs 120 crore in ATS Group's housing project in Gurugram.
Motilal Oswal Real Estate has committed Rs 120 crore to ATS Infrastructure from its two funds - India Realty Excellence Fund II & III - the company said in a statement.
This marks the company's fourth investment in ATS Group in the last three years with a commitment of close to Rs 300 crore. The Rs 120-crore investment will be in ATS Grandstand, a 1.7 million sq ft residential development in Gurugram.
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ATS Group's CMD Getamber Anand said Dwarka Expressway micro-market is at the cusp of getting rerated and it is an opportune time to invest in this market.
IREF II has recently pulled out its investment of Rs 75 crore in ATS Pristine project in Noida.
Motilal Oswal is in the midst of announcing the final closure of its third real estate fund, India Realty Excellence Fund III of about Rs 1,000 crore.
The fund will focus on top six Indian metros under the mezzanine and structured equity strategy targeting early stage investments.
IREF II has already made commitments of about Rs 650 crore and exited three transactions till date.
Motilal Oswal aims to invest close to Rs 1,000 crore in the current financial year across both the funds, it said.
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