Earnnest.me successfully exits its debut investment, delivering net investor return of 16.1%
In a nutshell
Earnnest.me has consolidated its position in one of the premium boutique residential project in Mumbai and also undertook a repeat transaction with one of its existing partners.
Earnnest.me exited its premier investment, Project Rise with net investor return of 16.1% / 1.3x. Located in Chennai, the underlying projects performed well and the execution of just 180K sf (Phase 1) of the total secured projects aggregating to 522K sf (across Phase 1, 2 and 3) proved sufficient to facilitate the exit. These projects created 100+ jobs, 350+ affordable housing making a meaningful socio-economic impact.
8/8 interest was timely serviced & the project had already pre-paid 25% of the capital in October 2023 (significantly ahead of schedule). At the time of exit, balance capital was lying in the form of cash / net receivable from near-complete inventory, despite contracted maturity being ~1 year away in Jan 2025.
Find below cash flow on this investment –
See below the transformation & creation of affordable housing stock.
At the time of launch of this investment opportunity in Jan 2022, Earnnest was new and the concept was untested. By now, the platform has completed close to 1,000 trades.