Product Launches
HiLITE Group Enters Investment Management With Rs. 200 Crore Shariah-Certified AIF
By News Desk ·
Key takeaways
- HiLITE Group launched HiLITE Investment Management and its first fund, HiLITE Ethical Fund 1, with a maximum size of Rs. 200 crore.
- The fund is registered with SEBI as a Category II AIF and certified by TASIS, with a seven-year tenure and a Rs. 1 crore minimum commitment.
- Nuvama is custodian of the fund, alongside PwC as auditor, Mitcon Credentia as trustee, SBI as banker and Ajmal & Company as regulatory advisor.
HiLITE Group has launched HiLITE Investment Management and its first fund, HiLITE Ethical Fund 1, a Shariah-certified real estate fund with a maximum size of Rs. 200 crore. The Tribune reported the launch on November 11, 2026.
HiLITE Ethical Fund 1 Targets High-Net-Worth Investors
HiLITE Group registered HiLITE Ethical Fund 1 with SEBI as a Category II Alternative Investment Fund. The fund is designed for high-net-worth individuals and institutional investors seeking long-term real estate opportunities, and its Shariah certification comes from TASIS (Taqwaa Advisory and Shariah Investment Solutions Pvt. Ltd.).
The fund will focus on greenfield and brownfield developments. It has a seven-year tenure and a minimum investment commitment of Rs. 1 crore, payable in instalments over 36 months. Distributions to investors may begin from the fourth year onwards, with returns varying based on project realisations and overall fund performance.
Each investment opportunity is first assessed by HiLITE Investment Management for alignment with TASIS's Shariah guidelines, then reviewed by its Shariah advisory team. The fund's institutional partner network includes PwC as fund auditor, Mitcon Credentia as trustee, SBI as banker, Nuvama Wealth Management Limited as custodian, and Ajmal & Company as regulatory advisor.
"Our entry into investment management is driven by a larger vision of bringing our experience in real estate to a wider investment landscape," said HiLITE Group CEO Ajil Muhammed. Chairman P. Sulaiman said the Shariah-certified approach reflects a belief that "investment should be guided not just by returns, but also by strong ethical principles."
HiLITE Group's Development Pipeline
According to akta.pro company records, HiLITE Group announced in June 2026 a ₹25,000 crore five-year investment plan to develop 50 million sq. ft. of mixed-use space across Kerala, projected to generate more than 200,000 direct and indirect jobs by 2030. The same records show a ₹570 crore investment announced in March 2026 to develop two IT complexes at Cyberpark Kozhikode, HiLITE Cyber Tower and HiLITE Cyber Hub, expected to create 2,500 direct jobs.
HiLITE Group's Expansion Before the Fund
In August 2026, HiLITE Group marked its 30th anniversary by gifting 47 cars valued at Rs. 20 crore to employees and announcing a plan to expand its Kerala footprint by 50 million square feet by 2030, Ani News reported. The Tribune reported in August 2026 that the group had launched Mandara Women's Wellness in Kozhikode, its entry into the AI-integrated wellness retreat sector. In July 2026, BusinessLine reported that HiLITE Group had appointed Neka Sulaiman, daughter of Chairman P. Sulaiman, as Director of HiLITE Holdings to lead its newly established hospitality division.
HiLITE Ethical Fund 1 Availability
HiLITE Investment Management said more details on the fund are available at www.hilitefunds.com.