Arnya Real Estate Fund, in partnership with Mumbai-based developer Supreme Universal, has launched a ₹1,000 crore real estate equity fund targeting residential redevelopment projects in Mumbai and Pune.
The fund will have a base corpus of ₹500 crore and a green-shoe option of an additional ₹500 crore and it is designed to support scalable and structured redevelopment projects in two of India’s most active housing markets. Arnya Real Estate Fund and Supreme Universal will jointly invest 20% of the capital in the newly created platform, with the balance to be raised from other investors.
The projects to be supported will be owned by the fund, while Supreme Universal will take charge of execution. The fund has been structured with a seven-year tenure, with individual projects expected to follow a four-to-six-year development cycle. The targeted return profile is in the mid-20% range according to them.
They have already shortlisted three projects in Mumbai and will initially focus only on the Mumbai city before expanding into Pune. Full deployment of the fund is expected over the next two years. The strategy is concentrated on non-slum redevelopment, particularly society and Maharashtra Housing and Area Development Authority (MHADA) projects.
This is Arnya’s second investment vehicle after its first debt fund. While Arnya will bring fund management expertise, Supreme Universal, which has delivered over 80 projects, will provide development capabilities and on-ground execution.
Arnya Real Estate Fund, founded by Mr. Sharad Mittal, focuses on providing access to risk-mitigated real estate investment opportunities. Supreme Universal has a presence in both Mumbai and Pune and has been expanding its redevelopment portfolio alongside greenfield projects.
Mr. Sharad Mittal, Founder of Arnya Real Estate Fund, said, the strategy is to build an investment platform giving investors access to opportunities in the redevelopment segment. We believe Mumbai’s redevelopment represents the most scalable and resilient business model within Indian real estate, and through this fund we are creating a disciplined and structured way to participate in it.
Mr. Sunny Bijlani, Joint MD, Supreme Universal, said, this partnership aligns with the need for professional and structured capital in redevelopment segment. Redevelopment is not just about creating new homes, but about uplifting entire communities. This partnership represents the future of real estate investing - professional, transparent, and performance-driven.
Mr. Vishal Jumani, Joint MD, Supreme Universal, said, As the real estate evolves, there is a need to have the right kind of capital coming into projects. Together, we are building a model where capital, expertise, and execution converge to deliver both projects for buyers and outcomes for investors.
