Industrial Investment Trust Limited (IITL) on November 12 announced plans to launch a ₹500-crore Category I Alternative Investment Fund (AIF) focused on the real estate sector in India.
“With a target corpus of ₹500 crore, the fund aims to harness growth in both residential and commercial real estate driven by robust housing demand, record-breaking office leasing, the rise of flexible workspaces, and surging domestic tourism,” the company said.
As per the statement, IITL is also launching a housing finance company dedicated to providing accessible financing solutions for home buyers and property upgraders.
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The statement cited that IITL’s investment portfolio as of September 30, 2024, stood at ₹405 crore, with diversified investments across multiple industrial sectors, with a particular emphasis on real estate.
New AIF to focus on Tier-1 and Tier-2 cities
The new AIF will strategically focus on Tier-1 and Tier-2 cities, partnering with leading Grade A developers to bring high-quality residential and commercial projects to fruition, the NBFC said in a statement.
“India’s real estate sector is on a powerful growth trajectory, and we see immense potential in partnering with esteemed developers across the country.,” said Bipin Agarwal, Chairman and Managing Director, Industrial Investment Trust Ltd.
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“The Housing Finance Company will further solidify our commitment to aiding Indians in achieving their homeownership goals. Together, these initiatives position IITL at the forefront of India’s evolving real estate and housing finance sectors,” Agarwal added.
IITL is engaging with several prominent developers nationwide to drive these initiatives forward, the company statement said.
Incorporated in 1933, Industrial Investment Trust Limited (IITL) started as an investment trust providing expert portfolio advice to shareholders, with initial capital from prominent financial entities like Prudential and Oriental Insurance, and Indian royal families. Listed on BSE and NSE, IITL became a Non-Banking Financial Company (NBFC) in 2000, focusing on investments in shares, stocks, debentures, and bonds, as well as private equity and margin funding.
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For the second quarter of financial year 2024-25, the company reported revenue of ₹14.47 crore, up from ₹6.01 crore in the same period last year. Meanwhile the net income reached ₹9.36 crore, up from ₹2.02 crore in the year-ago period. Half-yearly revenue totaled to ₹26.14 crore, with net income of ₹16.7 crore.
