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.
