Residential real-estate private credit fund research profile
Arnya Real Estate Fund–Debt is an India-focused residential real-estate credit vehicle providing secured growth capital at project/SPV level. Public fund updates identify transactions with Gami Group, Casagrand Group, Vaishnavi Group and MAIA Estates across Mumbai and Bengaluru, while the manager describes escrow, mortgage, independent credit review and active project monitoring controls.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Arnya Real Estate Fund – Debt uses a residential real-estate private credit; growth capital and secured project debt approach across Residential real estate, affordable housing, project finance.
Current evidence
A June 2026 Economic Times report and Arnya’s 2025–2026 fund updates identify more than four residential transactions and name Casagrand, MAIA Estates, Gami Group and Vaishnavi Group among the strategy’s investments.
Strategy
Residential real-estate private credit; growth capital and secured project debt
Sector focus
Residential real estate, affordable housing, project finance
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
A June 2026 Economic Times report and Arnya’s 2025–2026 fund updates identify more than four residential transactions and name Casagrand, MAIA Estates, Gami Group and Vaishnavi Group among the strategy’s investments.
Investor questions
Arnya Real Estate Fund – Debt is covered in Rupeia's private credit research universe. The current public record describes the strategy as Residential real-estate private credit; growth capital and secured project debt, with a sector focus of Residential real estate, affordable housing, project finance. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Arnya Real Estate Fund – Debt in the reviewed public sources: Gami Group; Casagrand Group; Vaishnavi Group; MAIA Estates. It does not represent a complete current portfolio unless the manager has published one.
The manager’s 2025 fund update reports income received and disbursements on named positions; these are fund-update cash-flow signals, not audited vehicle-level net IRR or TVPI. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Target corpus INR 1,000 crore plus INR 1,000 crore green shoe; later public updates report additional capital raised and deployment progress. Exact final close is not publicly disclosed.. Public terms or access information: Seven-year Category II AIF from first close; high-yield fixed-tenure debt, project/SPV-level security, escrow of project cash flows and active asset management. Fees, carry and hurdle are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Sharad Mittal (Founder & CEO); Kiran Kumar (Director – Investments); Piyush Thakkar (Director – Investments); Vishal Gupta (Director – Investments). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: Vehicle-level fees, carry, waterfall and net returns are not publicly disclosed. Portfolio names are limited to projects and developers explicitly attributed to the debt fund in dated fund updates and manager/press disclosures..
2026-06-08: A June 2026 Economic Times report and Arnya’s 2025–2026 fund updates identify more than four residential transactions and name Casagrand, MAIA Estates, Gami Group and Vaishnavi Group among the strategy’s investments.
Next step
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