The investment with realty developer EON Group is a part of Certus Capital’s strategy to deploy about ₹500 crore this fiscal in senior secured real estate credit deals through Earnnest.me.
“This investment in EON is a part of Certus Capital’s strategy to fund well-placed projects being executed by experienced developers in tier-1 cities,” said Ashish Khandelia, founder of Certus Capital and Earnnest.me. “The residential real estate sector is witnessing a stronger demand revival and improved sales.”
With the capital infusion, investments through Earnnest.me have crossed ₹100 crore across three deals since its launch in February. Prior to this, it had invested ₹40 crore in mid-market residential projects being developed by Pune-based Pharande Spaces, and another ₹40 crore in Chennai-based real estate company Arun Excello’s portfolio of four affordable housing projects.
The project, EON ONE, spread over more than three-quarters of an acre near Siddhivinayak Temple, entails redevelopment of a housing complex with rehabilitation of its 27 members.
While the rehabilitation part of the project is close to completion, the sale component has a total development potential of 150,000 sq ft which will be completed by December 2025. All approvals for the project have been secured.