Saroj Poddar Group and Keventer Launch Rs 400 Crore Real Estate Debt AIF
Kolkata, October 2, 2026: Poddar Keventer Capital Advisors Private Limited, an investment management platform backed by Saroj Poddar Group and Keventer Group, has launched a Category II Alternative Investment Fund (AIF) focused on secured real estate debt. The launch marks the first AIF established by a real estate developer from West Bengal, they said in a press release.
The Poddar Keventer Real Estate Fund – Scheme I targets a corpus of Rs 400 crore, with a Rs 200 crore greenshoe option allowing expansion to Rs 600 crore. Sponsors have committed 20% of the target corpus, amounting to Rs 80 crore. The fund targets a gross internal rate of return (IRR) of 18% to 22% before expenses, focusing on secured debt opportunities across Delhi-NCR and West Bengal.
The platform combines the institutional expertise of Saroj Poddar Group, a USD 3 billion conglomerate, with the real estate development capabilities of Keventer Group. Capital will be deployed through structured financing for ultra-luxury, premium, and mid-market residential developments, supported by security covers, escrow mechanisms, and milestone-linked drawdowns.
The initiative comes amid a changing real estate financing landscape in India, where private credit and alternative funds are increasingly supplementing traditional bank loans.
Commenting on the launch, Mayank Jalan, Chairman and Managing Director, Keventer Group, said, “We see significant opportunities across both Delhi-NCR and West Bengal, supported by evolving consumer aspirations, infrastructure-led development and sustained demand for quality real estate. While the opportunity is compelling, our experience has shown that converting it into sustainable value requires disciplined capital deployment and strong execution on the ground. Through this AIF, in partnership with Saroj Poddar Group, we aim to bring our real estate expertise and execution-led approach to identifying and supporting quality opportunities across these markets.”
Akshay Poddar, Promoter, Saroj Poddar Group, noted, “The rapid growth of India’s AIF ecosystem reflects the increasing role of alternative capital in supporting the country’s growth opportunities, with real estate emerging as one of its key investment destinations. At the same time, the evolution of the regulatory framework, including SEBI’s recent measures around scheme launches, governance and fund lifecycle management, is helping strengthen the institutional architecture of the asset class. In partnership with Keventer Group, we aim to build a platform that combines disciplined capital allocation, robust governance and long-term alignment with investors.”
Gaurav Agarwala, Head of Operations, Poddar Keventer, stated, “The strength of this platform lies in combining deep real estate understanding with a disciplined investment and execution framework. We will focus on opportunities where the underlying project fundamentals, promoter capability and cash flows provide the right basis for structured financing. A rigorous due diligence process, appropriate security structures and ongoing monitoring will remain central to our approach as we deploy capital across Delhi-NCR and West Bengal.”
