Arihant Foundations secures Rs 1.09 billion investment for expansion

28 Nov 2024 CW Team

Chennai-based real estate firm Arihant Foundations & Housing Limited has raised Rs 1.09 billion through a preferential equity allotment, marking a significant milestone in its growth trajectory. The funding comes from a prominent group of investors, including the Lotus Family Trust, managed by Madhusudan Kela, and CaratLane founders Mithun and Siddhartha Sacheti.

This strategic infusion will strengthen Arihant鈥檚 financial base, enabling the company to expand its footprint across South India. The funds are earmarked for developing projects spanning residential, commercial, and senior housing segments, further solidifying Arihant鈥檚 position as a key player in the region鈥檚 real estate market.

鈥淎rihant has consistently delivered on its promise of quality and innovation. We are excited to collaborate and support their mission of creating exceptional urban spaces,鈥� said Mithun Sacheti, Founder, CaratLane.

Kamal Lunawath, Managing Director, Arihant Foundations, emphasised the importance of the partnership, stating, 鈥淭he expertise and commitment of our investors align perfectly with our vision for growth. Their support will be invaluable as we scale operations, drive innovation, and expand our reach in South India.

(ET)

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