New Delhi, July 21 -- Chennai-headquartered property developer Casagrand Premier Builder Ltd has raised fresh funding from a real estate-focused alternative investment firm that backed one of its projects last year.
The developer, which constructs a diverse range of residential, commercial and industrial projects and is preparing to float its initial public offering, has raised Rs 170 crore ($17.6 million) in debt capital from Arnya RealEstates Fund Advisors, VCCircle has gathered.
Arnya, led by former Motilal Oswal Real Estate executive Sharad Mittal, deployed the capital for two Casagrand residential projects in Chennai. This comes a little more than a year after Arnya invested Rs 130 crore in one of Casagrand's housing projects in Bengaluru.
"This [new investment] builds on our longstanding relationship and marks another milestone following our first transaction together in 2025," Arnya said in a social media post.
The development comes as Arnya is set to launch a new real estate debt fund even as its maiden debt vehicle approaches final close.
The firm's debut vehicle, Arnya Real Estate Fund - Debt, has committed Rs 1,000 crore ($104.5 million) across 11 transactions spanning five regions since its first close in September 2024. Total commitments are expected to reach Rs 1,200 crore, including direct investments, by the final close.
The maiden fund's portfolio includes investments in developers such as Casagrand, MAIA Estates, Gami Group, and Vaishnavi. Several projects are at advanced stages of approvals and execution, while some have already been launched in key residential markets, including Bengaluru.
Arnya recently also announced the first close of its maiden residential equity fund at Rs 1,030 crore. Structured as a platform partnership with Supreme Universal, the fund is focussed on redevelopment opportunities in Mumbai and is also expected to hit its final close by June 2026.
Meanwhile, Casagrand received regulatory approval for its IPO last month. The planned offering consists of a fresh issue of Rs 1,200 crore and an offer for sale of Rs 20 crore.
Casagrand also secured the backing of private equity major Blackstone, which has one of the biggest portfolios of real estate assets in India, for two warehousing projects in November 2025.
Published by HT Digital Content Services with permission from VC Circle.