Certus Capital Raises ₹1,000 Crore for New Real Estate Fund
Certus Capital, a leading real estate investment firm, is currently raising its second Category-2 AIF (Alternative Investment Fund) - Certus TFCI Real Estate Fund - with a target size of ₹1,000 crore (₹500 crore plus a green-shoe option of ₹500 crore).
- Tourism Finance Corp. of India (TFCI) is an anchor investor in the fund, committing 10% of the fund size.
- The investments will be done mostly in the form of structured credit, providing flexibility in terms of risk-reward.
- Certus Capital can offer financing for land acquisition, working capital, and last-mile funding, among other options.
"The demand for capital continues to remain high, with developers needing financing across a project's capital lifecycle," said Khandelia, CEO of Certus Capital, in an interview with Mint.
In FY26, Certus Capital has committed to around ₹1,400 crore of investments, with an average deal size of ₹100-200 crore expected to increase to ₹200-500 crore.
Certus Capital operates across top-tier cities in India and selectively extends its approach into international markets, building a diversified portfolio across residential, commercial, retail, and mixed-use developments.
The company has submitted an application to set up a fund management entity at Gift City, aiming to attract broader global capital participation.
"We have an aspiration to be not only an India manager, but also opportunistically look at international geographies," Khandelia said.
International Expansion Plans
Certus Capital is focusing on selectively expanding its global investment management business, with identified geographies including Dubai.
"Despite geopolitical developments, our investments in Dubai are holding quite well, and we see opportunities in such situations," said Khandelia.
About the Author
Madhurima Nandy is a Senior Editor at Mint, tracking and writing on real estate, urban issues, and infrastructure. With over two decades of experience in journalism, she has closely followed India's real estate sector, covering critical events from the Lehman impact in 2008 to the NBFC-led liquidity crisis and the post-2020 pandemic boom cycle.
Madhurima has a Masters degree in English Literature and a postgraduate diploma in journalism from Symbiosis, Pune, and has worked in newsrooms across Mumbai, Bengaluru, and Kolkata.