Country’s one of the leading real estate group Piramal Group has raised Rs 800 crore capital through its private equity firm Indiareit Fund Advisors.

The firm declared that Domestic Scheme V has galloped the basic fund size of Rs 760 crore last week. The scheme currently stands at Rs 800 cr and is on track to reach the target fund size by year-end.

The group will investment in development of residential projects in various parts of the country. The money was raised solely from domestic investors, including Piramal Enterprises that invested about Rs 60 crore.

With this raised fund, Indiareit Fund will be one of the few managers who have raised a considerable amount of capital this year and will be able to commit to bigger deals in near future.

The fund has exercised to increase the option of Rs 205 crore in the wake of huge demand and now targeting to raise Rs 1,000 crore for the project.

In the financial services space, the group has a real estate focused PE fund – Indiareit and a NBFC that is focused on lending to real estate and education sector as well.

Piramal Enterprises is one of the largest diversified firm with arms in pharmaceutical, financial services and information management sectors to deal with. The giant group has combined revenues of over $680 million in FY 2013.