The company, a unit of JM Financial (led by Nimesh Kampani), is looking to invest the fund mainly in residential projects within the next 9 to 12 months
JM Financial Ltd’s real-estate investment unit, Infinite India Investment Management Pvt Ltd, is planning to invest an additional $60 million to $80 million in a few projects over the next 9 to 12 months.
“We are looking at investing mainly in the residential segment, and residential-led mixed used developments. There is a huge demand in the residential sector among end-users. The investor market is also returning as compared to 2008 and the first half of 2009. In terms of price correction, significant correction has already taken place in this segment. In fact, we are seeing a marginal to reasonable rise in prices depending upon the markets,” said RK Narayan, director, Infinite India.
With the global slowdown, many investment funds have turned cautious and want to invest mostly in already completed projects or into projects that are about to be built in Tier I cities.
Infinite India is also identifying such projects, where work can be started immediately and which are located in city-centric locations.
“We are mostly looking at investing in projects where the land acquisition has been completed, and the project is just about to start,” said Mr Narayan, adding that the company is also planning to invest in large projects where it has the opportunity to invest in the subsequent phases of the project.
Infinite India is a part of the JM Financial group led by investment banker Nimesh Kampani. The real-estate investment company thinks that the current time is opportune for investing in realty.
“We have waited for an appropriate time for investing and now we think that it is the right time. Our focus continues to remain on residential properties, not so much on standalone commercial or retail (properties). We will also look at opportunities in warehousing and logistics parks, but primarily the ones which are sponsored by integrated players,” Mr Narayan added.