Arnya Real Estate Fund has collaborated with Mumbai-based developer Supreme Universal to establish a platform for a ₹1,000 crore real estate equity fund. This fund will primarily target residential redevelopment projects in Mumbai and Pune.
The fund consists of a base corpus of ₹500 crore, with an option to raise an additional ₹500 crore. It aims to facilitate scalable and structured redevelopment initiatives in two of India’s most dynamic housing markets.
“Our strategy is to create an investment platform that provides investors with access to redevelopment opportunities. Mumbai’s redevelopment sector offers a scalable and resilient business model within the Indian real estate landscape, and this fund allows for a disciplined and structured participation,” stated Sharad Mittal, founder of Arnya Real Estate Fund, in an interview with RealtyDailyNews.
Arnya Real Estate Fund and Supreme Universal will co-invest 20% of the initial capital, with the remaining funds sourced from external investors.
“This partnership addresses the growing need for professional and structured capital in the redevelopment sector. Redevelopment is not just about constructing new homes; it’s about revitalizing entire communities. This collaboration exemplifies the future of real estate investment—professional, transparent, and performance-oriented,” remarked Sunny Bijlani, joint managing director of Supreme Universal.
The fund will own the projects it supports, while Supreme Universal will oversee execution. The fund has a seven-year lifespan, with individual projects expected to follow a four to six-year development cycle, aiming for returns in the mid-20% range.
The partners have already identified three projects in Mumbai and will initially focus on this city before expanding to Pune. Full deployment of the fund is anticipated within the next two years, concentrating particularly on non-slum redevelopment, especially society and Maharashtra Housing and Area Development Authority (MHADA) projects.
“As the real estate landscape evolves, it’s crucial to attract the right kind of capital for projects. Together, we are cultivating a model where capital, expertise, and execution intersect to benefit both buyers and investors,” commented Vishal Jumani, joint managing director of Supreme Universal.
This is Arnya’s second investment vehicle following its debt fund. While Arnya will contribute fund management expertise, Supreme Universal, which has successfully delivered over 80 projects, will handle development and on-ground execution.
The redevelopment sector has rapidly become the fastest-growing and scalable segment in Indian housing, especially in land-constrained cities like Mumbai. With an aging housing stock in prime city areas, redevelopment projects have garnered increasing interest from both developers and investors in recent years.
The Arnya Real Estate Fund, founded by Sharad Mittal, focuses on providing access to risk-averse real estate investment opportunities. Supreme Universal, with a presence in both Mumbai and Pune, has been actively growing its redevelopment portfolio alongside greenfield projects.
This new equity platform signals a more institutional perspective on redevelopment in India’s largest housing markets, where demand for capital-intensive, society-led projects continues to escalate.
