Lumos AIF

In the past, the team has led profitable investment exits during one of the toughest time in real estate due to focus on credible track record of developers, margin of safety, and location and product mix. Investment commitments are in mid sized projects where investment requirement is between Rs 20-50 cr, with an investment duration of 36 to 42 months. Better risk management. Right partner: early stage partnerships with premium developers with proven track record. Developers skin in the project: discourage cash out to developers or existing financial institution. Project control: appropriate security cover through 1.8 to 2 times cover on investment (cash flow and land), corporate guarantees, negotiable instruments etc., appropriate veto rights and board seat, joint signatory on major payments, escrow mechanism to control cash flow, and step in rights etc. Active management: active role in project planning, project monitoring, sales and other key policies of company. Clear exit strategy: focus on self monetization of assets rather than exit through refinancing. Take over of project with developer: development partner, focus on taking over projects rather than funding distressed developer.