Omkar Realtors & Developers on Sunday said it has raised Rs 200 crore from private equity firm Indiareit to develop a premium residential project at suburban Worli.

“We are happy to be associated with a reputed PE Fund like Indiareit. We envision extensive expansion plans within Mumbai and plan to develop many such exclusive residences,” Omkar Realtors and Developers Managing Director Mr Babulal Varma said.

“We are excited at the opportunity to forge a partnership with Omkar for this project and this investment is a validation of our belief in the developer and his capabilities, as well as the location,” Indiareit Fund Advisors Managing Director & Chief Executive Mr Ramesh Jogani said.

Omkar plans to develop projects having a combined area of about 20 million square feet in the Mumbai Metropolitan Region (MMR), with a specific focus on the island city and suburban districts over a five-year horizon.