Real estate startup Neoliv plots ₹1,000 crore sales in first year of operations

Founded in 2023 by Mohit Malhotra, former managing director and managing director of Godrej Properties Ltd, Neoliv is funded by asset management platform 360 ONE and other investors.

The company launched its first project (a planned development) called Neoliv Grand Park in Haryana’s Sonipat in May, and has four more launches on the way. Two projects are likely to be launched in Navi Mumbai in the ongoing December quarter. The company has also secured land parcels in Alibaug near Mumbai and Faridabad in Haryana.

Neoliv is currently rising ₹1,000 crore from family offices and ultra-high net worth individuals through its first fund, Inliv Real Estate Fund. It’s grown around so far ₹750 crore.

“We plan to develop 6-8 projects through Fund 1, in addition, we have a few projects for which we have a zoning management agreement with land owners. We are also considering creating the second fund.” ₹2,000 crore in FY27. We also aim to be ready for an IPO (IPO) in the next 4-5 years,” Malhotra told Mint in an interview.

The fund supports projects that award development management contracts to Neoliv’s real estate wing.

Pipeline to double by FY27

“Given the launch pipeline we have, we aim to: ₹1,000 crore sales this year and then doubling that ₹2,000 crore in FY27. “Our focus will be on India’s two most lucrative markets – NCR (National Capital Region) and MMR (Mumbai Metropolitan Region),” he said.

So far, Neoliv has largely focused on parcel and villa development projects, but plans to implement group housing projects in the future.

Malhotra said that the company is in talks to sign 3-4 projects in MMR and NCR, two of which will be group housing projects.

“We are also looking at redevelopment project opportunities in Mumbai, in micro markets like Bandra, Juhu and Khar. In these projects, we will have local partners who will deal with tenants or owners, clean projects etc,” he added. Apart from its core markets NCR and MMR, Neoliv will also explore planned projects in smaller cities.

Residential plots and villa development have gained momentum in recent years, and companies have purchased large plots of land for such projects. According to data from Anarock Property Consultants, approximately 504 acres of land were transacted in cities such as Bengaluru, Pune, MMR, NCR and Mysuru between January and June.

“Planned projects allow for a quick turnaround where the developer can sell and exit the project within a short period of time. Demand is good for planned projects in peripheral areas of major cities and also in tier-2 cities,” said Prashant Thakur, managing director and chief research and consultancy at Anarock.

“For a new company like Neoliv, successfully executing and delivering several planned projects can help them leverage this track record when launching residential projects going forward,” Thakur added.