Certus Capital invests Rs. 80 crore in Mumbai residential project, Aakasa

Mumbai, April 21, 2023: Certus Capital, an institutional real estate investment and advisory firm, has invested Rs 80 crore in Aakasa – a premium residential project being developed by Techno Group, Fortune Realty and Gala in Mumbai’s upmarket Worli. 

A press release issued by the company says that, the project is located very close to the upcoming Ritz Carlton hotel and its revenue potential is upwards of Rs 350 crores. The project has received all major approvals including RERA and this investment will be towards financing the construction of the project. This transaction was advised by Sushant Vaishnav, partner Siya Capital, a real estate focused investment banking firm.

With this transaction, Certus has invested more than Rs 100 crores in this sub-market, over the last 6 months. Commenting on the investment, Certus Capital and Earnnest.me’s Founder – Ashish Khandelia, said, “Real estate credit is our highest conviction theme at the moment driven by the robust rebound in residential sector and lack of capital availability. In general, there is a desperate need to deepen our bond markets given today, 98% of bond market participation is only in AAA and AA bonds. As we march towards a US$ 5 trillion economy, it will be imperative to democratise the credit access across the spectrum. Earnnest.me is an endeavour in this direction.”