To date, MDAVF has invested approximately ₹406 crore in 22 MSMEs. The fund has successfully executed full and partial exits from 12 companies, realizing divestment proceeds of around ₹281 crore and achieving a strong Internal Rate of Return that highlights the fund’s disciplined and strategic approach to value creation.

Mr. Amey Belorkar, Fund Manager – Maharashtra Defence and Aerospace Venture Fund (MDAVF), IDBI Capital Markets & Securities Ltd., stated, “MDAVF is committed to supporting India’s vision of self-reliance in defence and aerospace by channelizing strategic investments into high-potential ventures. We are dedicated to fostering technological breakthroughs that not only strengthen national security but also enhance indigenous capabilities. By backing innovative and sustainable growth in critical sectors, MDAVF is proud to contribute to India’s defence ecosystem and the vision of Atmanirbhar Bharat.”

MDAVF’s investments have led to the creation of over 3,000 direct jobs and an estimated 10,000-15,000 indirect jobs across Maharashtra. By nurturing a robust ecosystem for defence and aerospace within the state, the fund has catalysed skill development, indigenization, and technological advancement in critical defence manufacturing sectors. Notably, 13 of the 27 MDAVF-backed companies are led by women promoters and entrepreneurs, actively driving innovation and growth in the defence and aerospace industry. This highlights MDAVF’s unwavering commitment to diversity, inclusivity, and empowering women within India’s defence ecosystem.

The fund’s investments align seamlessly with the government’s visionary ‘Make in India’ initiative, prioritizing the development of indigenous capabilities in defence production. Sectors such as nuclear solutions, UAV automation, marine technologies, and aerospace advancements have witnessed remarkable progress, positioning India as a global leader in cutting-edge defence manufacturing. MDAVF is poised to leverage emerging opportunities in advanced technologies and manufacturing, providing a resilient platform for sustainable growth, innovation, and self-reliance.

Managed by IDBI Capital Markets & Securities Limited, MDAVF continues to play a transformative role in driving indigenous innovation, fostering self-reliance, and enhancing India’s global competitiveness in the defence and aerospace sectors.

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Whether technological, financial, regulatory, or consumer-driven change, there have been many exciting developments in 2019 that promise a positive outlook for real estate. This article highlights 5 trends with the potential to drive disproportionate change in 2020 and beyond.

SEBI-regulated investments: Prior to RERA, pre-launch sales were an important source of early-stage capital for real estate developments. While convenient, these were unregulated opportunities with no standardization of structure or transparency. Today, there has been a marked shift toward regulated investments for the early, pre-approval phase of a project. These investments typically use an AIF structure and, in some cases, the PMS route. Exits, especially for rent-yielding properties, have started moving to the REIT structure.

Managed offices and homes: Worldwide, co-working and managed offices are the fastest growing parts of commercial real estate. These offices allow tenants to focus on their core business and leave facility management and services to a specialist operator. In India, the sector is set to achieve 10 million square feet in record time, with more than a 10% market share of total office leasing already. Similarly, the more nascent category of co-living, which provides managed homes, grew 100% in 2018 and has attracted a large number of players. We expect these sectors to continue to grow but weaker players will be winnowed in the Darwinian struggle for survival

Specialization: Every industry tends to reward either vertical integration or increased specialization when competition intensifies, and real estate is no different. Where once developers engaged in pretty much all types of real estate developments, higher specialization will be required in the future as competitive pressure makes it difficult to succeed as a jack of all trades. We can expect to see developers specializing in retail, logistics, senior-housing, student-housing, medical offices, and such other specialized sectors and these specialist players are likely to significantly grow their market share within these sectors at the expense of the generalist developers.

International scale projects: As capital-raising moves from informal HNI networks to institutional funding, the amount of capital that can be raised for a single project will continue to witness strong growth. This will allow deal sizes to increase, which means there are likely to be larger real estate developments, whether commercial, residential or retail. With large interstate migration to cities like Bangalore, Pune, Hyderabad and Delhi, India’s growing urban centers will benefit from these larger developments that will have the scale to provide world-class amenities such as sporting and entertainment facilities within the developments.

Technology-driven innovation: Like with so many industries, technology has had a positive impact on real estate. Digital marketplaces have revolutionized real estate investments and enabled investors to profit reliably, safely, and conveniently from the sort of exclusive property assets that used to be the domain of large institutional investors. Technology is also transforming construction, where the pressure to complete projects quickly is increasing demand for better construction methodologies, such as prefabricated construction technology.

Conclusion: This is a unique period for Indian real estate. It is being transformed in various ways, whether it be in financing, construction, specialization or scale. Developments, which used to be one-off projects, are being transformed into assets where continuing services are required. There are a host of new sectors like senior living, student housing, managed offices and logistics parks that are growing rapidly. New avenues are being created to profit from all this, such as AIFs and REITs. Technology platforms are greatly simplifying the process of finding the best investment opportunities, and regulations are creating a culture of transparency.

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Government will infuse ₹10000 crore in the fund while the remaining ₹15000 crore will be contributed by State Bank of India, LIC and other financial institutions. The fund will help incomplete housing projects of less than ₹Two crores per unit in Mumbai, ₹One and half crores per unit in other metros including national capital region (NCR) and ₹One crore per unit in other parts of the country get ready for move-in.

“We welcome the announcement by the Finance Minister to set up a `Special Window` in the form of AIF and dedicate a fund of 25,000 crore for the completion of stalled housing projects. The move is expected to create an avenue of relief to homebuyers and the developers in the sector. The specific fund is expected to revive 80% of the real estate projects. This action by the government will induce cash flow in the system and kick start the revival process. This decision will not only help in completing the stuck projects in this sector, but will also regain the confidence of buyers to invest in real estate. The benefit will surely be felt in NCR and Mumbai region.” – Ashish Sarin, CEO, AlphaCorp 

Falling prices, shrinking sales and piling inventory have collectively created hurdles before the developers. Situation was worsening as the fear of default made financial bodies reluctant to lend for these projects. The consequent slump in the construction affected current jobs and future job prospects. The move would help generate considerable employment opportunities.

In an another relief, the industry players facing insolvency proceedings are allowed to avail funds, who were earlier debarred from the September package. The fund will also be available for projects declared defaulters. All these inclusion will collectively improve market sentiments for the real estate sector.

But, to avail the benefits of the fund the projects need to be registered in RERA (Real Estate Regulation and Development Act). Besides, they should have a positive net worth. Projects declared an NPA or are before the NCLT but not asked for liquidation will also get benefits. Financially viable projects lacking funds will be at the core and will get benefits from the allocation.

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