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Investment manager Arnya Real Estates Fund Advisors and Mumbai-based developer Supreme Universal have secured commitments of about INR 1,030 crore for their Arnya Real Estate Fund � Equity, marking the first close of the investment platform launched in November 2025. The Sebi-registered Category II alternative investment fund has a target corpus of INR 1,250 crore and will focus primarily on residential redevelopment opportunities in Mumbai, while also evaluating projects in Pune. Capital has been raised from a mix of domestic and offshore investors, including family offices and high-net-worth individuals, with around INR 220 crore committed by the sponsors themselves. The fund will deploy equity capital into redevelopment-led housing projects, with individual investments expected to range between INR 80 crore and INR 200 crore across several transactions currently under evaluation.
Arnya Real Estates Fund Advisors, in partnership with Mumbai-based developer Supreme Universal, has secured commitments of approximately INR 1,030 crore for the first close of its Arnya Real Estate Fund – Equity, an investment platform focused on residential redevelopment projects in Mumbai and Pune. The fund, launched in November 2025, is structured as a Sebi-registered Category II alternative investment fund and has a target corpus of INR 1,250 crore. Advertisement
The capital has been raised from a mix of domestic and offshore investors, including family offices and high-net-worth individuals. Sponsor commitments from the two partners account for around INR 220 crore of the total commitments secured in the first close. Arnya Real Estates will act as the investment manager for the platform, while Supreme Universal will undertake development and execution of the projects backed by the fund.
The platform is intended to deploy equity capital into residential redevelopment projects, particularly within Mumbai, where redevelopment of ageing housing societies has emerged as a significant segment of the city's housing supply pipeline. According to the investment manager, the fund will typically invest between INR 80 crore and INR 200 crore in individual projects and is expected to back around seven to eight developments. Several redevelopment transactions are currently under evaluation as the fund begins identifying initial deployment opportunities following the first close.
Officials associated with the platform indicated that redevelopment projects in Mumbai have gained momentum in recent years as land availability in the city remains constrained and older residential stock is increasingly being replaced by higher-density developments. By providing structured equity capital to developers undertaking such projects, the fund aims to support redevelopment activity while offering investors exposure to residential real estate opportunities in key urban markets.
Sharad Mittal, founder and chief executive officer of Arnya Real Estates Fund Advisors, indicated that residential redevelopment in Mumbai represents a scalable investment opportunity within the broader real estate sector. He noted that the platform had been designed to offer investors a structured vehicle through which they could participate in redevelopment projects alongside an experienced development partner.
Sunny Bijlani, joint managing director of Supreme Universal, stated that as the real estate sector evolves, the quality and structure of capital have become increasingly important alongside execution capabilities. He indicated that partnerships involving institutional capital could introduce greater discipline and transparency in redevelopment projects.
The equity platform represents the second investment strategy launched by Arnya Real Estates. In 2024, the firm had introduced its first fund — Arnya Real Estate Fund – Debt — with a target corpus of INR 1,000 crore to provide financing to real estate projects across multiple cities. The latest fund expands the firm's investment approach by focusing on equity participation in redevelopment-driven housing developments.
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