360 ONE ENTERS INTO STRATEGIC PARTNERSHIP WITH NEOLIV WITH MINORITY ENTITY LEVEL INVESTMENT AMIDST NEOLIV’S PLANNED AIF FUND RAISE OF US$ 150 Mn

by Prashant Kapadia/NHN

Mumbai, INDIA (JUNE 30, 2023) – 360 ONE today announced a strategic equity investment in NEOLIV- India’s Foremost Residential Platform. NEOLIV has been founded by Mohit Malhotra, former MD, and CEO of Godrej Properties. NEOLIV focusses on durable middle- income housing in the Delhi NCR and Mumbai MMR markets, targeting healthy returns with measured equity risk.

The residential real estate sector in India has been plagued with distrust & conflict driven relationship between developer and customer. The whole experience is stressful and far from being a joyous relationship. Moreover, lack of transparency, secure funding and corporate governance issues have resulted in loss of credibility amongst the developers.

NEOLIV’s vision is to change this entire conflict and stressful environment. Built on the core principles of three strong pillars (Trust, Expertise, Partnering for Life), NEOLIV promises to follow industry-first “Partnership Approach” to bring back the JOY in the customer’s home ownership and living experience journey.

• Trust –Fund-led model with high corporate governance, and commitment to global ESG standards to ensure timely delivery with top quality homes.

• Expertise –With a collective experience of 100+ years in capital raise, business development, governance, execution, and customer satisfaction

• Partnering for Life- Transparent, accountable & collaborative approach with our customers throughout their home-owning and living experience.

NeoLiv is built in partnership. Key management team members are equity partners in the business, demonstrating their long-term commitment and ambition. During founder Mohit Malhotra’s 12 years career at Godrej Properties, sales grew by 30X, and 90+ projects with a development potential of 150 mn sq ft were added to the portfolio. Under Mohit’s last 6 years as MD and CEO of Godrej Properties, the market cap of the company grew by 6X.

The investment by 360 ONE is the first of its kind in the space and firmly establishes the credentials of the founding team. NEOLIV intends to utilize the funds to set up robust investment, corporate governance and execution processes, hire top talent and establish a unique competitive edge in the real estate sector.

In addition, NEOLIV has secured approval of Category II AIF from SEBI (Securities and Exchange Board of India) and intends to raise US$ 150 Mn including a green shoe option of US$ 60 Mn.

Karan Bhagat, Founder, MD & CEO, 360 ONE, said, “Over the past few years, there has been a vacuum created in the residential fund and development space, where we see strong demand as the country’s middle-income segment continues to grow. We are pleased to be working with the NEOLIV team who bring on board a highly credible track record of capital raise, business development, governance, execution and customer satisfaction to further capitalize on opportunities in this space and believe this investment will deliver strong risk-adjusted returns for all beneficiaries.”

Mohit Malhotra, Founder and CEO, NEOLIV, said, “We are excited to partner with 360 ONE as a strategic equity investor in our company. 360 ONE’s commitment to NEOLIV is a testament to the innovative platform which NEOLIV is building in the residential space in India. The investment will allow us to build and expand our unique model to better serve our customers.