Industrial Investment Trust to launch Rs 500 crore AIF focused on real estate
Representative image NEW DELHI: Industrial Investment Trust (IITL) is planning to launch a category I alternative investment fund (AIF) focused on the real estate sector with a target corpus of Rs 500 crore.
The new AIF will focus on tier 1 and tier 2 cities. As on September 30, 2024, IITL’s investment portfolio stands at Rs 405 crore.
It is also launching a housing finance company. Bipin Agarwal, chairman and managing director of the company said, “The housing finance company will further solidify our commitment to aiding Indians in achieving their homeownership goals.”
For FY ending March 2024, it posted operating income of Rs 75.94 crore, net income of Rs 64.86 crore, and a year-on-year net profit growth of 18.6% at Rs 51 crore.
