Industrial Investment Trust (IITL) is launching a Category I Alternative Investment Fund (AIF) with a target corpus of INR 500 crore, focusing on real estate projects in tier 1 and tier 2 cities. This strategic move aims to tap into high-growth urban centres, offering attractive returns for investors. Additionally, IITL is introducing a housing finance company to support homebuyers, further bolstering its presence in the real estate sector. In FY 2024, IITL reported an 18.6% year-on-year profit growth, with net profits of INR 51 crore. These initiatives reflect IITL's robust financial health and commitment to driving India's real estate growth.
Industrial Investment Trust (IITL), a key player in the investment sector, is set to launch a Category I Alternative Investment Fund (AIF) that will focus on the real estate market. The fund will have a target corpus of INR 500 crore. It aims to tap into the growing demand for real estate in tier 1 and tier 2 cities across India.
The new AIF will strategically invest in high-potential real estate projects in these cities. By targeting urban centres with significant growth prospects, IITL aims to generate attractive returns for its investors. The company is confident that its expertise and market insights will help it capitalise on the opportunities in these regions.
As of the end of September 2024, IITL's investment portfolio stood at INR 405 crore. This shows the company's steady growth and strong track record in the investment space.
Alongside the AIF, IITL is also launching a housing finance company. The new company will focus on providing financial support to individuals looking to buy homes. Bipin Agarwal, Chairman and Managing Director of IITL, said the housing finance company will further strengthen the company's commitment to helping Indians achieve their homeownership goals.
In the most recent financial year, IITL reported impressive results. For the financial year ending March 2024, the company posted an operating income of INR 75.94 crore. Its net income stood at INR 64.86 crore. IITL also achieved a year-on-year net profit growth of 18.6%, reaching INR 51 crore. These figures reflect the company's solid financial health and growing business.
IITL's initiatives are expected to play an important role in India's real estate and housing finance sectors. With a focus on tier 1 and tier 2 cities, the company plans to drive growth in high-demand markets. The launch of both the AIF and the housing finance company shows IITL's long-term vision and its commitment to expanding its presence in the Indian real estate industry.
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