Kotak Realty Fund is investing R80Cr in Gurgaon based Orris Infrastructure for it's group housing project.

According to Bar&Bench, the investment is by way of subscription to secured OCCPS issued by Orris Infrastructure. The tenor of the debentures is 45 months from the date of issue. The investment is through an escrow mechanism devised for this purpose. The other security includes mortgage over the land comprising the group-housing project as well as personal guarantee of promoters.

SNG & Partners advised Kotak India Real Estate Fund, while Dua Associates advised Orris Infrastructure.

Founded in July 2006, Orris Infrastructure Private Limited is promoted by Mr. Vijay Gupta, who has over three decades of experience in the business of land aggregation and selling converted/licensed land to established real estate players. The company diversified into the business of real estate development in the year 2009 when it launched its first residential project – Carnation Residency in Sec-85, Gurgaon.

The group has in its possession around 1000 acres of land in and around National Capital Region and Rajasthan, which has been acquired over the last 10-15 years. The group has plans to develop this landbank over the next 5-7 years.

The operations of the company are concentrated in the city of Gurgaon (Haryana) where it is currently developing five real estate projects – three residential and two commercial.

The residential projects currently being developed by Orris are: Carnation Residency, Aster Court , Aster Court Premiere and the commercial projects are Floreal Towers, Orris Business Square. While all the three residential projects are located in Sector 85 in Gurgaon, one of the commercial projects (Floreal Tower) is in Sector 83 and the second (Orris Business Square) is in Sector 82A.

Kotak Realty has a total $750 Mn worth of assets under advisory through three funds - $100 Mn (R457Cr) Kotak India Real Estate Fund-I, $380 M (R1,494Cr) Kotak Alternate Opportunities India Fund and $265 Mn offshore fund.

Its first fund, Kotak India Real Estate Fund I, launched in February 2006, has been completely deployed with other notable investments such as Lemon Tree Hotels, Pride Hotels, 3C Green Boulevard and Clover Golf.

Kotak raised its last fund - an offshore fund worth $265 Mn, three years ago.

Kotak Realty has made project level investments in Emaar MGF, Dheeraj Realty Group, IVR Hotels & Resorts Ltd, Divyasree Developers Private Limited, Janapriya Engineers Syndicate Ltd, among others.

Recently it invested R170Cr in BPTP's residential Gurgaon township project - Astaire Gardens spread over 102.2 acres through its $265Mn Kotak India Real Estate Fund1 raised three years ago.

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KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
06/02/12	Orris Infrastructure - Kotak Realty Fund	Private Equity	Kotak Realty Funds Group	16.40

 

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  Profiles

Fund
Name	Corpus	Target Sector	Website	KeyContact
Kotak Realty Funds Group		Real Estate	http://www.realtyfund.kotak.com/	Sandeep AgarwalS. SriniwasanV. Hari KrishnaVikas ChimakurthyAneesh SivakumarS SrinivasanDeepshikha DhamijaRaj ShahSakar MawandiaShashidhar ReddyShreyas RajagopalYavati Kene

Company
Name	Promoters	Office	Competitor	Website
Orris Infrastructure Private Limited	Vijay Gupta	RZ-D-5, Mahavir Enclave		www.orris.in

  Advisor

SNG & Partners

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