Meenakshi Group launches financial services arm, unveils ₹700 cr real estate fund

Mahesh Katragadda, CEO of Meenakshi Alternates

Meenakshi Group, a Hyderabad-based realty and clean energy group, has launched its new financial services arm, Meenakshi Alternates (M-Alts) and its debut fund – Meenakshi Real Assets Fund for investments in real estate across top-tier cities in India.

This SEBI-approved Category II AIF will adopt a hybrid investment strategy by targeting a mix of debt and equity investments with a total corpus of ₹700 crore (including a ₹350 crore greenshoe option). Meenakshi Group has committed up to 20 per cent of the fund size as sponsor capital.

Through a six-year horizon, the Meenakshi Real Assets fund targets 6 to 8 deals, focusing on self-liquidating real estate assets that offer both consistent cash flows and equity upside. The fund aims to allocate capital to Tier-i developers, market leaders, and key players in high-potential micro-markets within real estate asset classes, with individual investments of up to ₹70 crore per transaction.

“Securing the AIF license marks a significant milestone for us,” Mahesh Katragadda, CEO of Meenakshi Alternates, said in a statement on Monday.

The group delivered projects with an aggregate area of 13 million sq. ft., and projects with 9.5 million sq. ft. are in the pipeline.

Published on June 2, 2025