Arnya and Supreme Universal Launch ₹1,000-Crore Housing Platform in Mumbai and Pune
Investment manager Arnya RealEstates Fund Advisors and developer Supreme Universal have joined forces to launch a residential real estate platform, focusing on non-slum redevelopment projects in Mumbai and Pune. The platform aims to deploy ₹1,000 crore in equity capital.
Real EstateRedevelopmentMumbaiPuneInvestmentReal Estate MumbaiSep 22, 2025
Arnya RealEstates will raise the capital for the platform via a Sebi-registered Category II alternative investment fund (AIF)—Arnya Real Estate Fund-Equity. The focus of the platform is to develop non-slum, residential redevelopment projects in these cities. The platform will have around 7-8 projects, with an investment of ₹80-200 crore each, according to Sharad Mittal, founder of Arnya RealEstates Fund, in an interview with Mint.
Arnya RealEstates will manage the fund, while Mumbai-based Supreme Universal will develop the projects. Both firms will commit 20% of their equity in the fund as sponsor capital. Arnya RealEstates was set up by Mittal, a former executive director and chief executive of real estate funds at Motilal Oswal Alternates, to offer a range of real estate investment products, including debt, rental, and equity investments.
In 2024, Arnya launched its maiden real estate fund—Arnya Real Estate Fund-Debt—aiming to raise ₹1,000 crore, with a green-shoe option of another ₹1,000 crore, as reported by Mint. “Our objective at Arnya is to build a real estate-focused investment platform that provides investors with access to unique opportunities through private equity. Mumbai’s redevelopment segment represents the most scalable and resilient business model within Indian real estate,” Mittal said.
Through this fund, a disciplined and structured way to participate in the redevelopment market is being created, he added. Vishal Jumani, joint managing director of Supreme Universal, stated, “There is a need to have the right kind of capital coming into real estate projects. With Arnya, we are building a model where capital, expertise, and execution converge to deliver both premium projects for buyers and superior outcomes for investors.”
A recent report by property advisory Knight Frank India predicts that by 2030, ongoing housing society redevelopment projects in the Mumbai region will unlock 44,277 new homes, valued at ₹1.3 trillion. “Society redevelopment in Mumbai is both inevitable and essential, given the city’s limited avenues of greenfield growth and the constant rise in demand. Redevelopment has significantly reshaped the dynamics of several micro-markets,” said Shishir Baijal, chairman and managing director of Knight Frank India.
However, the report also highlights that the society redevelopment space is quickly heating up due to rising prices and overheated market conditions. In recent years, a slew of top Mumbai developers, as well as those from outside the city, have chosen the redevelopment route to add new projects to their portfolios.
Frequently Asked Questions
What is the primary focus of the Arnya and Supreme Universal housing platform?
The primary focus is to develop non-slum, residential redevelopment projects in Mumbai and Pune.
How much capital is the platform planning to deploy?
The platform plans to deploy ₹1,000 crore in equity capital, with a ₹500 crore green-shoe option.
Who will manage the fund, and who will develop the projects?
Arnya RealEstates will manage the fund, while Supreme Universal will develop the projects.
What is the significance of the redevelopment segment in Mumbai's real estate market?
The redevelopment segment is considered the most scalable and resilient business model within Indian real estate, given Mumbai’s limited greenfield growth and rising demand.
What does the Knight Frank India report predict about redevelopment projects in Mumbai by 2030?
The report predicts that by 2030, ongoing housing society redevelopment projects in the Mumbai region will unlock 44,277 new homes, valued at ₹1.3 trillion.
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