Smartworld Developers, Kotak Realty Fund Form Rs 800 Crore Partnership for Luxury Living in NCR
Gurugram, September 11, 2026: Smartworld Developers, promoted by the Bansal Family and an affiliate of M3M India, announced a strategic partnership with Kotak Realty Fund, the real estate arm of Kotak Alternate Asset Managers Limited.
According to a press release, under Phase I of the agreement, Kotak Realty Fund will invest approximately Rs 800 crore in Smartworld Sky Arc and Trump Residences in Sector 69, Gurugram. Together, these projects represent a Gross Development Value exceeding Rs 8,200 crore.
The companies envision the agreement as a long-term institutional relationship rather than a project-level transaction, combining Smartworld’s development platform and luxury residential pipeline with Kotak Realty Fund’s capital and real estate expertise. Kotak Realty Fund has invested across Indian real estate cycles for over two decades, with its latest fund closing at nearly USD 1 billion, anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority alongside the National Pension Service of Korea.
Smartworld has established a presence in premium and branded residences through developments associated with global names including The Trump Organization and ELIE SAAB. The wider Bansal Family platform has also collaborated with Jacob & Co. Smartworld Sky Arc has already recorded approximately 94 percent sell-through across 2.6 million square feet of saleable area. Historically, the company has funded development through internal accruals, backed by fully paid, unencumbered land and a virtually net debt-free platform.
“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,” said Pratik Tibrewala, SVP & Group Head – Corporate Finance & Banking, M3M India Group.
“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,” said Yateesh Wahaal, Group Whole-Time Director, M3M India Group.
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