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M. Somasekhar

Hyderabad, Feb. 15

Red Fort Capital Advisors, an international private equity firm with a $425 million real estate investment focused fund for India, plans to bring in an additional $500 million in the next two years.

The firm is also actively considering expanding its portfolio into growth sectors like logistics, especially the warehousing in the near term, according to Mr Kuldip Chawlla, one of the Directors.

An India-specific Red Fort India Land and Realty Fund has also been floated, to allow domestic investors to participate in the land and real estate development investments, he told Business Line here on Friday.

This fund, expected to have a size of Rs 1,000 crore, would allow high net worth individuals, corporates, PF Funds etc. to park their funds for investment. “We are looking at housing projects, especially affordable one’s in the top 15 cities as well as re-development projects, especially in cities like Mumbai through this fund,” he said.

Red Fort Capital, which has already committed $250 million last year, in projects in Chennai, Bangalore and Hyderabad, sees affordable housing (apartments of 1,000 sq.ft. between Rs 10 and 25 lakhs), as a high growth segment, Mr Chawlla said.

Of the anticipated $250 million investment during 2008, Chennai would see $100 million in a major integrated township project. A commercial space project in Kolkata has been signed and an affordable housing project in Mumbai is close to be clinched, he added.

In Hyderabad, the fund has invested around Rs 250 crore in an integrated township project being developed by Indu Projects Ltd in Bachupally area.

While the fund is active in its investments with the Prestige Group in Bangalore, in Chennai it has invested $100 million in a project that is coming up near Ambattur, an emerging IT hub.

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Red Fort Capital to invest $500 m in next two years

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