Arnya and Supreme Universal Launch Rs 1000 Crore Fund for Mumbai and Pune Redevelopment
Arnya Real Estate Fund and Supreme Universal have joined forces to establish a Rs 1000 crore real estate equity fund, focusing on residential redevelopment projects in Mumbai and Pune. The fund aims to revitalize aging housing stock and uplift communities in these bustling cities.
Real EstateRedevelopmentMumbaiPuneEquity FundReal Estate PuneSep 22, 2025
The fund will have an initial corpus of Rs 500 crore, with a green-shoe option to raise an additional Rs 500 crore. This platform aims to support scalable and structured redevelopment projects, focusing on non-slum redevelopment, particularly society and Maharashtra Housing and Area Development Authority (MHADA) projects.
Sharad Mittal, founder of Arnya Real Estate Fund, emphasized the strategic importance of the fund. “The strategy is to build an investment platform giving investors access to opportunities in the redevelopment segment. We believe Mumbai’s redevelopment represents the most scalable and resilient business model within Indian real estate, and through this fund we are creating a disciplined and structured way to participate in it.”
Arnya Real Estate Fund and Supreme Universal will jointly invest 20% of the capital in the newly created platform, with the remaining 80% to be raised from other investors. Sunny Bijlani, joint MD of Supreme Universal, highlighted the significance of this partnership. “This partnership aligns with the need for professional and structured capital in the redevelopment segment. Redevelopment is not just about creating new homes, but about uplifting entire communities. This partnership represents the future of real estate investing—professional, transparent, and performance-driven.”
The projects supported by the fund will be owned by the fund, while Supreme Universal will handle the execution. The fund has a seven-year tenure, with individual projects expected to follow a four-to-six-year development cycle. The targeted return profile is in the mid-20% range.
The partners have already identified three projects in Mumbai and will initially focus on the city before expanding into Pune. Full deployment of the fund is expected over the next two years. Vishal Jumani, joint MD of Supreme Universal, emphasized the importance of the right kind of capital in the real estate market. “As the real estate evolves, there is a need to have the right kind of capital coming into projects. Together, we are building a model where capital, expertise, and execution converge to deliver both projects for buyers and outcomes for investors.”
The redevelopment segment has emerged as the fastest-growing and most scalable segment in Indian housing, especially in land-constrained cities like Mumbai. With a significant amount of older housing stock in prime areas, redevelopment projects have attracted increasing attention from developers and investors in recent years.
Arnya Real Estate Fund, founded by Sharad Mittal, focuses on providing access to risk-mitigated real estate investment opportunities. Supreme Universal has a strong presence in both Mumbai and Pune and has been expanding its redevelopment portfolio alongside greenfield projects.
The new equity platform signals an institutional approach to redevelopment in India’s largest housing markets, where the demand for capital-intensive, society-led projects continues to rise. This partnership is expected to set a new standard for professional and transparent real estate investing in Mumbai and Pune.
Frequently Asked Questions
What is the main focus of the Rs 1000 crore real estate equity fund?
The main focus of the fund is to target residential redevelopment projects in Mumbai and Pune, particularly non-slum redevelopment, including society and MHADA projects.
Who are the partners in this real estate equity fund?
The partners in this real estate equity fund are Arnya Real Estate Fund and Supreme Universal, a prominent Mumbai-based developer.
What is the initial corpus of the fund?
The initial corpus of the fund is Rs 500 crore, with a green-shoe option to raise an additional Rs 500 crore.
What is the expected tenure of the fund?
The fund has a seven-year tenure, with individual projects expected to follow a four-to-six-year development cycle.
What is the targeted return profile of the fund?
The targeted return profile of the fund is in the mid-20% range.
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