Gurugram: Smartworld Developers, promoted by the Bansal Family and an affiliate of M3M India, today announced a strategic partnership with Kotak Realty Fund, the real estate arm of Kotak Alternate Asset Managers Limited.
Under Phase I, Kotak Realty Fund will invest approximately ₹800 crore in Smartworld Sky Arc and Trump Residences, Sector 69, Gurugram, together representing a Gross Development Value (GDV) exceeding ₹8,200 crore.
More than a project-level investment, the partnership is envisioned as a long-term institutional relationship, combining Smartworld’s development platform and luxury residential pipeline with Kotak Realty Fund’s institutional capital and real estate investment expertise.
Kotak Realty Fund has invested across Indian real estate cycles for more than two decades. Its latest fund closed at nearly USD 1 billion, anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), alongside the National Pension Service of Korea.
Smartworld has built a differentiated position in premium and branded residences, with developments associated with global names including The Trump Organization and ELIE SAAB. Its wider Bansal Family platform has also collaborated with Jacob & Co., helping build one of India’s most distinctive branded-residences portfolios.
Smartworld Sky Arc has already recorded approximately 94% sell-through across 2.6 million sq. ft. of saleable area. The company has historically funded development through internal accruals, with fully paid, unencumbered land and a virtually net debt-free development platform.
Mr. Pratik Tibrewala, SVP & Group Head – Corporate Finance & Banking, M3M India Group, said:
“India’s luxury residential market is undergoing a structural transformation, with institutional capital increasingly backing developers that combine product quality, execution and governance. Kotak Realty Fund’s partnership with Smartworld is a strong endorsement of the platform we have built. We enter this relationship from a position of financial strength, with the ambition to scale it well beyond Phase I.”
Mr. Yateesh Wahaal, Group Whole-Time Director, M3M India Group, said:
“Our ambition is not simply to build luxury homes, but to create enduring addresses. This partnership brings together institutional capital, disciplined execution and a shared long-term vision. Phase I is only the beginning.”