Smartworld Developers raises Rs.250-Cr from Motilal Oswal

Gurugram-headquartered Smartworld Developers Pvt Ltd has raised INR 250 crore from Motilal Oswal. The funds will be used for expansion. The firm is also in talks with various national and international private equity players to set up a development platform for upcoming projects. Smartworld has already prepaid its initial investments of INR 400 crore received from Piramal Group and IIFL within a year. Currently focused on the NCR market, the company plans to expand into markets such as Mumbai MMR, Pune, Bengaluru, Goa, and Hyderabad. Smartworld claims to have recorded sales of over INR 4,000 crore, with INR 25,000 crore worth projects and over 25 million sq ft of development potential over the next 5 years.