Mt K Kapital Aims to Raise Rs 4,000 Crore for Indian Real Estate Projects

Real estate focused fund management company Mt K Kapital is looking to raise over Rs 4,000 crore or $450 million through its second fund from domestic and offshore investors, marking one of the largest capital raises by an Indian investment management firm.

As a partnership-driven platform backed by realty developer Rustomjee Group, Mt K Kapital’s strategy will be to build alliances with developers across key Indian markets including Mumbai, NCR, Pune, and Bangalore. The aim is to invest at the acquisition stage and even at the pre-approvals stage.

“The Mt K platform aligns interests across stakeholders in the development cycle, and the first fund’s performance has reinforced this approach. With the second fund, we plan to expand into Pune, Bangalore, and NCR and broaden developer partnerships. Investor support in the first fund has guided our approach, and we aim to structure projects that allow effective execution and timely delivery to customers,” Binitha Dalal, Founder & Managing Partner, Mt K Kapital, told ET.

The credit fund has a tenure of seven years and is targeting residential, mixed-use, and redevelopment projects that can be completed within five years. The average investment size is expected to be around Rs 300 crore per project, and the first deployment is likely by the first quarter of 2026. The fund’s General Partners are expected to commit around $100 million to the total corpus.

“The first fund, a Rs 790 crore MMR-focused vehicle, has established the platform’s approach to underwriting, project monitoring, and investor engagement. We expect the strategy to scale with the second fund and strengthen the platform’s position as an institutional capital provider to the real estate sector. The model has already demonstrated effective outcomes within the Rustomjee ecosystem,” said Boman Irani, CMD, Rustomjee Group.

The platform also holds development execution capability through developer Rustomjee, enabling it to participate across the value chain from early-stage structuring to execution and delivery, Dalal added.

Mt K Kapital’s first fund has marked its presence in the real estate investment space, and the company is aiming to scale this strategy further through the second fund by partnering with established developers across markets that continue to demonstrate strong end-user housing demand and improving affordability.

The proposed fund raise comes at a time when the real estate sector is witnessing sustained momentum led by demand resilience in the residential segment, strong sales velocity, and consolidation towards established developers. Access to structured capital has also emerged as a critical driver for project acquisition and execution, particularly in land-led and redevelopment opportunities across major cities.

With a focus on underwriting projects that offer visibility of timelines and cash flows, the new fund intends to capture opportunities at the early-stage acquisition level backed by on-ground execution capabilities. Industry experts expect a continued pipeline of redevelopment and land aggregation transactions in the Mumbai Metropolitan Region and other key urban centres, presenting a strong deployment opportunity for such platforms.