Certus Capital invests Rs30 crore in a Prabhadevi housing project.

Certus Capital’s digital neo-financing platform Earnnest.me has decided to invest over Rs30 crore in a premium boutique residential development of real estate developer EON Group in Mumbai’s Prabhadevi neighborhood.

The investment with EON Group is part of Certus Capital’s strategy to deploy approximately Rs 500 crore in senior secured real estate credit deals through Earnnest.me in the current fiscal year.

With this Rs 30 crore capital infusion, Earnnest.me investments have surpassed Rs 100 crore across three transactions since its launch in February. Prior to this, it had invested Rs 40 crore in Pune-based real estate development firm Pharande Spaces‘ portfolio of four affordable housing projects, and another Rs 40 crore in Chennai-based real estate firm Arun Excello’s portfolio of four residential projects.

The EON ONE project, which spans more than three-quarters of an acre near Siddhivinayak Temple, entails the redevelopment of an old housing society as well as the rehabilitation of its existing 27 members. While the rehabilitation portion of the project is nearing its end, the sale element has a total potential growth of 1.5 lakh sq ft and will be completed by December 2025, as all approvals have already been obtained. Based on current property rates in the area, the project is expected to bring in Rs 400 crore in revenue.

“Certus Capital’s investment in EON is a component of the firm’s strategy to fund well-placed projects carried out by developers in Tier 1 cities. “The residential real estate sector is experiencing increased demand and sales. Earnnest.me will continue to provide carefully selected and thoroughly researched property investment opportunities to our investors “According to Ashish Khandelia, founder of Certus Capital and Earnnest.me, the number is 11.

Certus Capital picks up 10-15% of each investment as part of its strategy to ensure its presence throughout the investment period. So far, more than 200 investors have invested in various credit opportunities through Earnnest.me, with a minimum spend ticket size of Rs 10 lakh. Over 50% of investors have returned to the platform.

It has a diverse group of investors that includes real estate agents, finance experts, family offices, CXOs, ultra-high networth individuals, professionals, and so on. Earnnest.me continues to actively assess deals in tier 1 markets such as Hyderabad, Bangalore, Pune, Mumbai, and Chennai.

Certus Capital has added former Deloitte India executive Vishal Singh to its leadership team in order to strengthen its institutional investment banking business. Ex-Piramal Capital executive Gaurav Bhalla has been appointed as Director, and ex-Deloitte India executive Siddharth Pal has been appointed as Senior Vice President. In addition, in 2023, it aims to launch its first category-ll alternative investment fund (AIF).

Certus Capital has assessed over Rs40,000 crore of real estate credit exposure held by NBFCs and housing finance companies since its inception in 2018. Certus also advised foreign investment firms on nearly Rs 10,000 crore in closed investments and platform commitments in the real estate credit and warehousing space.