HiLITE Group Launches Rs 200 Cr Shariah‑Certified Category II AIF
HiLITE Group announced the creation of a new investment‑management vertical, HiLITE Investment Management, under which it will launch its first product, HiLITE Ethical Fund 1. The fund is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund (AIF) and carries a maximum fund size of Rs 200 crore.
The AIF is Shariah‑certified by TASIS (Taqwaa Advisory and Shariah Investment Solutions Pvt. Ltd.), providing an ethical investment framework. It is designed for high‑net‑worth individuals and institutional investors seeking long‑term exposure to real‑estate assets. The fund will primarily invest in greenfield and brownfield real‑estate developments, applying disciplined capital management.
Key terms of the fund include a seven‑year tenure, a minimum investment commitment of Rs 1 crore, and a payment schedule spread over 36 months. Given typical real‑estate development cycles of two to four years, distributions to investors are expected to commence from the fourth year, with returns dependent on project realisations and overall fund performance.
The fund’s operational infrastructure is supported by a network of institutional partners: PwC serves as the fund auditor, Mitcon Credentia as the trustee, State Bank of India (SBI) as the banker, Nuvama as the custodian, and Ajmal & Company as the regulatory advisor.
Commenting on the launch, HiLITE Group Chairman P. Sulaiman said that the Group’s three‑decade journey of identifying opportunities and building value across sectors naturally extends to investment management, emphasizing that “investment should be guided not just by returns, but also by strong ethical principles.”
HiLITE Group CEO Ajil Muhammed added that the venture aims to offer high‑net‑worth individuals access to professionally managed, real‑estate‑focused opportunities, underpinned by a structured and disciplined approach, while maintaining responsible practices and long‑term value creation.
The press release also recapped HiLITE Group’s legacy in Kerala’s real‑estate landscape, citing landmark projects such as Focus Mall (Keralam’s first mall), HiLITE City (South India’s largest mixed‑use development), and the World Trade Center Kozhikode (one of the world’s largest WTCs). The Group has a stated vision to develop 50 million sq ft across Kerala by 2030.
Further information about the fund is available at www.hilitefunds.com and via the contact number +91 9061340044.