IndusLaw advised and represented Certus Capital on this deal. The IndusLaw team consisted of Avikshit Moral (Partner), Preeti Dhar (Principal Associate), Nikita Bhosle (Associate), Yash Bhatt (Associate)
Certus Capital’s digital neo-financing platform Earnnest.me has invested Rs 40 crore in an advanced stage mid-market residential project being developed by Pune-based real estate development firm Pharande Spaces.
The investment with Pharande Spaces is a part of Certus Capital’s strategy to deploy about Rs 500 crore in the current financial year in senior secured real estate credit deals through Earnnest.me.
The platform is also in the process of evaluating several other transactions and is targeting to close at least two more deals in the next quarter. These deals will be spread across tier 1 markets like Mumbai, Pune, Chennai, Bengaluru, Hyderabad and NCR.
Prior to this, Earnnest.me had invested Rs 40 crore in a Chennai-based real estate company Arun Excello’s portfolio of four affordable housing projects. A diversified profile of investors including bankers, financial services professionals, lawyers, chartered accountants, high-net worth investors, etc. participated through Earnnest.me in this Chennai project. As a part of its strategy, Certus Capital picks up 10-15% of every investment to ensure its presence throughout the investment cycle.
Certus has recently strengthened its leadership team by adding seven members and middle and senior levels. These include ex-Piramal Capital executive Gaurav Bhalla as Director and ex-Deloitte India executive Siddharth Pal as Senior Vice President.
Of these, Bhalla has over 20 years of experience in the financial services industry with expertise in fundraising and financial product distribution whereas Pal has resourceful advisory, fundraising and debt restructuring experience in real estate and BFSI sectors, the company said.
Certus Capital is working towards building Earnnest.me as a robust neo-financing platform offering a diversified range of real estate investment options and fixed income opportunities.
Since its inception in 2018, Certus Capital has evaluated over Rs 40,000 crore of real estate credit exposure forming part of NBFCs and housing finance companies.
Certus has also advised foreign institutional investors on close to Rs 10,000 crores of closed investments and platform commitments in real estate credit and warehousing space. Foreign investors participated in over $2 billion of real estate credit opportunities, offering around 18 percent secured returns, over the last three years.