Industrial Investment Trust Limited (IITL), a prominent non-banking financial company in India, has announced plans to launch a Category I Alternative Investment Fund (AIF) focused on India’s booming real estate sector.
With a target corpus of ₹500 crore, the fund aims to harness growth in both residential and commercial real estate driven by robust housing demand, record-breaking office leasing, the rise of flexible workspaces, and surging domestic tourism.
IITL’s current investment portfolio stands at INR 405 crore (as on 30th September 2024), with diversified investments across multiple industrial sectors, with a particular emphasis on real estate.
The new AIF will strategically focus on Tier 1 and Tier 2 cities, partnering with leading Grade A developers to bring high-quality residential and commercial projects to fruition. These cities, recognized for their economic growth potential, will benefit from investments aimed at enhancing urban development and generating value across the real estate landscape.
IITL is also launching a Housing Finance Company dedicated to providing accessible financing solutions for home buyers and property upgraders. This subsidiary will simplify home financing options, supporting IITL’s vision of making home ownership more accessible and hassle-free for a broad customer base.
Bipin Agarwal, Chairman & Managing Director of Industrial Investment Trust Ltd., commented, “India’s real estate sector is on a powerful growth trajectory, and we see immense potential in partnering with esteemed developers across the country.
With the launch of this AIF, we aim to deliver value-driven investment options to our stakeholders while supporting urban expansion and sustainable development. The Housing Finance Company will further solidify our commitment to aiding Indians in achieving their homeownership goals. Together, these initiatives position IITL at the forefront of India’s evolving real estate and housing finance sectors.”
IITL is engaging with several prominent developers nationwide to drive these initiatives forward. These collaborations align with IITL’s strategic approach to providing high-value investment and financing solutions that foster growth and transformation within India’s real estate market.
Incorporated in 1933, Industrial Investment Trust Limited (IITL) started as an investment trust providing expert portfolio advice to shareholders, with initial capital from prominent financial entities like Prudential and Oriental Insurance, and Indian royal families. Listed on BSE and NSE, IITL became a Non-Banking Financial Company (NBFC) in 2000, focusing on investments in shares, stocks, debentures, and bonds, as well as private equity and margin funding. The company has consistently paid dividends and issued bonuses thrice, highlighting its commitment to shareholders.
Industrial Investment Trust Ltd. (IITL) reported strong earnings for Q2 and the first half of FY 2024, with Q2 revenue rising to INR 144.78 million from INR 60.18 million year-on-year, and net income reaching INR 93.64 million, up from INR 20.21 million. Half-year revenue totaled INR 261.43 million, with net income of INR 167.03 million. For FY ending March 2024, IITL posted operating income of Rs 75.94 crore, net income of Rs 64.86 crore, and a year-on-year net profit growth of 18.6% at Rs 51 crore, reflecting its robust financial trajectory.