IREF VI marks one of India’s fastest and largest domestic capital raises in real estate credit
Motilal Oswal Alternates (“MO Alternates”), the alternative investments arm of the Motilal Oswal Group, has successfully closed its sixth real estate fund — Indian Realty Excellence Fund VI (IREF-VI) — with total commitments of ₹2,000 crore, marking a significant milestone in India’s real estate credit ecosystem.
This fundraise represents a 65% increase over its predecessor and ranks among the largest and fastest capital raises in India’s domestic real estate credit space.
💰 Fund Snapshot: Indian Realty Excellence Fund VI (IREF-VI)
| Parameter | Details |
|---|---|
| Fund Size | ₹2,000 Cr |
| Growth over Previous Fund | 65% |
| Commitments | Domestic HNIs, Family Offices, Offshore (via GIFT City) |
| Projects Funded | 15 |
| Cities Covered | Mumbai, Pune, Chennai, Bangalore, Hyderabad, Kolkata |
| Capital Already Deployed | 75% |
| Portfolio Focus | Mid-income residential developments |
| First Exit IRR | 20.25% |
🏗️ Developer Partnerships (Select)
- Ajmera Realty
- Runwal Enterprises
- Ambuja Neotia Group
- Casagrand Group
- Radiance Realty
- Mantra Properties
- Assetz Group
- Akshar Group
- Bhagwati Group
- ASBL Group
📈 Platform Performance & Track Record
| Metric | Value |
|---|---|
| Real Estate AUM | ₹10,000 Cr+ |
| Real Estate Investments | 180+ |
| Full Exits | 110+ |
| Divestments Since 2024 | ₹2,200 Cr+ |
| Real Estate Commitments Since 2024 | ₹2,500 Cr+ |
| Funds Managed | 6 real estate funds + co-investments |
| Total AUM (Alternatives) | USD 2 Billion+ |
🔍 Market Context & Strategic Outlook
India’s real estate credit market is undergoing a transformation, with rising land acquisition activity, limited traditional funding, and tightening regulations opening doors for alternative credit platforms. MO Alternates is strategically positioned to fill the funding gap with structured credit tailored to developer needs.
🎙️ Leadership Speak
“Credit demand for land acquisition is accelerating, driven by renewed residential appetite, rising land values, and limited structured capital. We see significant headroom for calibrated growth.”
— Saurabh Rathi, MD & Co-Head (Real Estate), MO Alternates
“We are grateful for the continued trust of our investors. Our focus remains on performance, transparency, and consistent outcomes.”
— Anand Lakhotia, MD & Co-Head (Real Estate), MO Alternates
“This close reflects the trust placed in us by both domestic and international investors. Our domain expertise and governance framework continue to differentiate our platform.”
— Vishal Tulsyan, Co-founder & Executive Chairman, MO Alternates
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