The Saroj Poddar Group, formerly known as Adventz Group, has partnered with Keventer Group to launch their inaugural alternative investment fund aimed at facilitating debt investments in real estate projects. This collaboration has resulted in the formation of Poddar Keventer Capital Advisors Pvt Ltd, an investment management firm that has introduced the Poddar Keventer Real Estate Fund - Scheme I. The fund, which is registered as a Category II alternative investment fund with the Securities and Exchange Board of India (SEBI), has set a target corpus of ₹400 crore (approximately $41.4 million) and includes a greenshoe option of ₹200 crore.
As a diversified business conglomerate with a valuation of $3 billion, the Saroj Poddar Group brings extensive institutional expertise to the table, while Keventer Group, a prominent player in eastern India's business landscape, contributes its real estate development and execution capabilities. The launch of this investment fund marks a strategic step for both groups, as they aim to establish a professionally managed institutional real estate investment platform. The fund is designed to target projects within the Delhi-National Capital Region (NCR) and West Bengal, with an anticipated gross internal rate of return ranging from 18% to 22% prior to expenses. Notably, the sponsors have committed ₹80 crore, which accounts for 20% of the target corpus.
The Poddar Keventer Real Estate Fund will focus on providing structured financing for real estate developments across various market segments, including ultra-luxury, premium, and mid-market categories. Its investment strategy incorporates a combination of secured debt structures, security cover, escrow arrangements, and covenant safeguards. Additionally, the fund will utilize milestone-linked drawdowns and ongoing project monitoring to ensure effective capital deployment and management.
This initiative comes at a pivotal moment when India's real estate sector is experiencing a structural transformation. Institutional capital, private credit, and alternative investment vehicles are increasingly supplementing traditional funding sources, as developers seek more flexible and structured financing options. Investors are also placing greater emphasis on governance, transparency, and execution capabilities in their investment decisions. Mayank Jalan, chairman and managing director of Keventer Group, noted, "We see significant opportunities across both Delhi-NCR and West Bengal, supported by evolving consumer aspirations and infrastructure-led development, which are driving demand for quality real estate." Akshay Poddar, promoter and director of Saroj Poddar Group, echoed this sentiment, emphasizing the growing significance of alternative capital in India's economic landscape, particularly within the real estate sector. He highlighted how recent regulatory measures by SEBI are enhancing the institutional framework surrounding alternative investment funds, thereby bolstering investor confidence and participation in the real estate market.
