Kotak Realty Fund has successfully invested ₹800 crore in Gurugram-based projects Smartworld Sky Arc and Trump Residences, located in Sector 69, Gurugram. According to The Economic Times, the fund infusion is part of a partnership with Smartworld Developers, promoted by the Bansal Family and an affiliate of M3M India. In a statement on Friday, Smartworld Developers confirmed the investment, stating that "Under Phase I, Kotak Realty Fund will invest approximately ₹800 crore in Smartworld Sky Arc and Trump Residences, located in Sector 69, Gurugram." The fund infusion represents a Gross Development Value (GDV) of over ₹8,200 crore for the two projects, with anticipated total sales revenue projected at ₹8,200 crore. As reported by Business Standard, the company did not specify how many phases of funding the partnership will entail, indicating potential for future investment rounds.
The Smartworld Sky Arc project has already recorded approximately 94% sell-through across 2.6 million sq. ft. of saleable area, demonstrating strong market demand. As reported by The Economic Times, Smartworld Developers has historically funded development through internal accruals, with fully paid, unencumbered land and a virtually net debt-free development platform. This financial strength positions the company well for the current institutional partnership with Kotak Realty Fund. According to Business Standard, Pratik Tibrewala, SVP & Group Head – Corporate Finance & Banking, M3M India Group, stated that "Smartworld enters this relationship from a position of financial strength, with the ambition to scale it beyond phase 1." The partnership is envisioned as a long-term institutional relationship combining Smartworld's development platform and luxury residential pipeline with Kotak Realty Fund's institutional capital and real estate investment expertise.
In April last year, Smartworld Developers and Tribeca Developers launched an ultra-luxury residential project in Gurugram under the 'Trump' brand with a total investment of around ₹2,200 crore. According to The Economic Times, the project -- 'Trump Residences' -- comprises 298 units with a total saleable area of 12 lakh square feet. This project forms part of the current funding arrangement with Kotak Realty Fund. The project is part of Smartworld's portfolio of premium, luxury and branded residential communities across Delhi NCR, which includes developments associated with global names including The Trump Organization and ELIE SAAB. As reported by Business Standard, Smartworld also anchors developments associated with global luxury fashion brand Elie Saab in Gurugram, and its wider Bansal family platform collaborated with US-based luxury jewellery and high-end watchmaking brand Jacob & Co through M3M.
The partnership with Kotak Realty Fund represents institutional capital backing for developers combining product quality, execution and governance. As reported by The Economic Times, Pratik Tibrewala, SVP & Group Head – Corporate Finance & Banking, M3M India Group, stated that "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 has invested across Indian real estate cycles for more than two decades, with its latest fund closed at nearly USD 1 billion, anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), alongside the National Pension Service of Korea. According to Business Standard, Kotak Realty Fund's partnership with Smartworld is a strong endorsement of the platform built by the developer, with the company's latest fund closed at nearly USD 1 billion.
The M3M and Smartworld platforms together rank amongst India's Top 5 real estate developers, with projects launched representing ₹1.28 lakh crore+ GDV, over 31.8 million sq. ft. delivered and more than 55.8 million sq. ft. under construction. According to The Economic Times, the platforms have committed a ₹10,000 crore capital expenditure programme for FY2027. As reported by Business Standard, the platforms have committed ₹10,000-crore capital expenditure for 2026-27 (FY27). Yateesh Wahaal, Group Whole-Time Director, M3M India Group, emphasized that "This partnership brings together institutional capital, disciplined execution and a shared long-term vision." M3M India and Smartworld Developers have built many projects in Delhi-NCR and adjoining cities, with the partnership combining Smartworld's development platform and luxury residential pipeline with Kotak Realty Fund's institutional capital and real estate investment expertise.
