SWAMIH Fund to exit from Rs. 76cr investment in Naman Premier

Project Overview

  • Naman Premier is a mid-income residential project located at Marol, Mumbai developed by Shree Naman Developers Pvt Ltd promoted by Mr. Jayesh Shah.
  • Project has saleable area of ~1.8 lakh sq.ft. with 365 units in 5 wings.

The Location

Project is located in established residential area of Marol, Andheri(E) ,Mumbai

Project History

Project was launched in 2017 and expected to complete by 2020.
However, delayed due to various reasons such as delay in approvals, lack of funding from existing lender, slower sales and collection than expected.
Overall, the project was delayed by more than 2 years.

SWAMIH Investment

Project was launched in 2017 and expected to complete by 2020.
However, delayed due to various reasons such as delay in approvals, lack of funding from existing lender, slower sales and collection than expected.
Overall, the project was delayed by more than 2 years.

SWAMIH Impact

Project completed within ~3.5 years of investment despite losing 4-5 months in covid lockdowns.
Monitoring to ensure no diversion of funds u2013 all inflows are used for project completion
Contractor/vendors dues cleared. Approval/FSI cost paid to authorities. Salaries paid to the employees
176 new units sold; ~281 Cr collected
288 homebuyers to finally get their homes