NeoLiv, a burgeoning force in the real estate sector, has captured attention with its successful first close of over ₹300 crore for its maiden alternative investment fund (AIF), Inliv Real Estate. Led by Mohit Malhotra, the former Managing Director and Chief Executive of Godrej Properties, NeoLiv’s strategic foray into fund management and development has garnered widespread interest from investors across India.
The inaugural fundraise, categorized as a II AIF, witnessed enthusiastic participation from ultra-high net worth individuals and family offices nationwide. The roadshows, held in key cities such as Mumbai, Delhi-NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur, and Bangalore, underscored NeoLiv’s compelling vision and investment potential.
Backed by 360 One, NeoLiv operates as an integrated residential platform, poised to redefine the real estate landscape with its unique blend of fund management prowess and development expertise.
Utilizing the raised capital, NeoLiv aims to focus on developing middle-income residential properties in prime locations like Mumbai MMR and Delhi NCR. Additionally, the company seeks to explore plotted development opportunities in tier II cities, allocating 50% of the funds to such projects.
Mohit Malhotra, Founder of NeoLiv, expressed optimism about the company’s future endeavors, stating, “With this initial capital infusion, NeoLiv is well-positioned to execute strategic land acquisitions and forge profitable joint ventures.”
Malhotra further revealed that NeoLiv is actively engaged in discussions for lucrative land deals in cities including Lucknow, Sonipat, Khalapur, Alibaug, and various suburbs of Mumbai. The company anticipates finalizing its first land deal in the coming months, with identified parcels already in Mumbai and Delhi.
Looking beyond traditional markets, NeoLiv is exploring opportunities for plotted developments in tier II cities such as Sonipat, Lucknow, Panipat, Jaipur, Alibaug, and Nashik. Additionally, plans are underway for villa and low-rise projects in Mumbai and Gurgaon. Over the next couple of years, NeoLiv aims to launch a total of 10 residential projects, comprising six plotted and four group housing initiatives, primarily concentrated in Delhi-NCR and Mumbai.
The robust performance of the real estate sector further validates NeoLiv’s strategic direction. With strong sales momentum leading to inventory clearance, the industry is poised for continued growth. According to a report by Kotak Institutional Equities dated 5th March, all-India residential sales for 3QFY24 witnessed a significant 26% year-on-year increase and a sequential uptick of 16%. Analysts anticipate the sector to surpass the 1 billion sq. ft-mark for full-year FY2024E, fueled by planned launches by key players in the fourth quarter.
Mohit Malhotra’s distinguished tenure at Godrej Properties serves as a testament to his acumen and leadership in the real estate domain. During his 12-year tenure, sales surged exponentially, and the company’s market capitalization witnessed a remarkable six-fold increase during his final six years as MD and CEO.
