Mumbai: The Ahmedabad-based Venture capitalist Amplus Capital Advisory plans to invest Rs 200 crore over the next two years in upcoming residential projects in six cities, a top company official said on Friday without identifying the projects.
These investments will be in those projects coming up in Mumbai, Delhi NCR, Bangalore, Ahmedabad, Vadodara and Surat and is part of the fund's diversification strategy, the company said.
"There is huge scope for residential realty development in Gujarat mainly in tier II cities. Gujarat is currently growing at over 10 percent and the political environment there is also favourable. We are looking at investing in projects in Ahmedabad, Vadodara and Surat," Amplus chief executive Anuranjan Mohnot said here on the sidelines of CII event on real estate.
Amplus, which has a targeted corpus of Rs 200 crore with an additional plan of raising Rs 100 crore, plans to invest nearly Rs 100 crore in Gujarat and the remaining in projects in Mumbai, Bangalore and NCR.
The company has till now raised Rs 100 crore mainly through institutional investors and HNIs, he said, adding, "We plan to invest in nearly 6-8 projects over the next two years."
The fund is also looking for opportunities in brownfield commercial or retail projects and redevelopment projects, he said.