WSB, a significant player in India's real estate investment sector, has exceeded its initial target by raising over Rs 850 crore through Fund Plus co-invest, reflecting strong investor confidence. The company's strategy focuses on partnering with reputable developers to contribute to India's real estate growth. The WSBREDF II fund has deployed most of its capital across 12 transactions, achieving two exits with a 23 percent gross IRR. Distinguished developer partners include Bollineni Group, Shapoorji Pallonji, and Jain Housing. The fund has attracted diverse investors, underscoring its appeal in the Indian residential real estate market by aiming to provide quality housing solutions and attractive returns.
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WSB, a prominent player in India's real estate investment sector, has not only met but exceeded its initial target commitment by raising over Rs 850 crore through Fund Plus Coinvest. This achievement underscores the unwavering trust and confidence that investors have placed in the company's ability to adeptly manage third-party capital within the dynamic real estate landscape. WSB's core strategy revolves around forging partnerships with developers renowned for their impeccable execution and delivery track records, thereby making a substantial contribution to the robust growth of India's real estate sector.
Kaushik Desai, who serves as the managing partner and a member of WSB's Investment Committee, expressed his deep appreciation for the trust and confidence that investors have consistently bestowed upon the company. He proudly highlighted the remarkable success of the WSBREDF II fund. This fund has not only deployed over two-thirds of its capital across a diverse portfolio of 12 transactions but has also secured two exits, boasting an impressive gross IRR of 23 percent. Desai took the opportunity to spotlight the company's valued partnerships with distinguished developers. These eminent names include the likes of Bollineni Group, Shapoorji Pallonji, and Jain Housing, representing a tangible testament to WSB's unwavering credibility and reputation within the real estate industry.
The composition of this diverse investor base is a resounding endorsement of WSBREDF II's well-conceived investment strategy and its potential for success within the dynamic Indian residential real estate market. The investments made through WSBREDF II are poised to play a pivotal role in addressing the pressing need for quality housing solutions, especially within the mid-income and affordable housing segments. Simultaneously, these investments are expected to generate attractive returns for a discerning pool of investors.
It's important to note that the second fund was launched in the third quarter of 2021 and successfully completed its fundraising efforts in the second quarter of 2023. WSB remains steadfastly committed to the sustained growth and development of India's real estate sector. Over the past 4–5 years, the company has left an indelible mark by delivering over 12,000 homes across a diverse portfolio of more than 40 projects.
The year 2021 marked significant milestones for WSBREDF II. The fund made substantial contributions to the real estate market by deploying Rs 110 crore in debt for two housing projects located in Chennai and Hyderabad. These strategically positioned projects, including Krishnaiah Projects Pvt. Ltd.'s Zion project in Chennai and Jain Housing Constructions Ltd.'s Salzburg in Hyderabad, cater to the burgeoning mid-income housing segment.
Since its establishment in 2013, WSB Real Estate Partners Pvt. Ltd. has proficiently administered and dedicated over Rs 2,000 crore in debt capital to the residential real estate domain. The company operates across five major metros and has actively participated in approximately 40+ real estate transactions. Impressively, it has achieved successful exits or partial exits in more than 75 percent of these transactions, firmly establishing a track record of excellence and proficiency in the realm of real estate investments.
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