Ashish Khandelia


Ashish has over 20 years of experience with expertise in Real Estate Investing and Lending. In his earlier roles, he led RE businesses at KKR and Morgan Stanley Real Estate (MSRE) in India. He has ~US$1.9Bn of transaction experience and has been instrumental in building three businesses around real estate banking, equity investing and lending.

Ashish founded Certus Capital in July 2018, with a vision to build an integrated real estate investment management platform. He is a management graduate from Indian School of Business, Hyderabad and a Chartered Accountant.




Morgan Stanley Real Estate, India- Head of Acquisitions

  • Amongst the first two Indian employees to join MSRE and instrumental in building the business
  • Was part of US$700MM+ primarily equity investments in various companies, including Oberoi Realty Ltd. and Panchshil Group, Pune


Kotak Investment Bank- Associate

Was instrumental in establishing Kotak’s real estate investment banking practice and executing one of the first entity-level PE investment in the Indian RE


Prior to Kotak, Ashish worked with Ernst & Young between 1998 to 2004 in different roles across assurance services and investment banking

Past Investment

  • Location: Mumbai
  • Developer: Raiaskaran Group
  • Type: Luxury Residential
  • Size: 0.6MM sf
  • Location: Karle Group
  • Developer: Karle Group
  • Type: Premium Residential
  • Size: 1.5MM sf
  • Location: Mumbai
  • Developer: Wadhwa Group
  • Type: Mid-Market Residential
  • Size: 2.0MM sf
  • Location: Mumbai
  • Developer: Sheth Creators
  • Type: Mid-Market Residential
  • Size: 2.7MM sf
  • Location: Bangalore
  • Developer: Bhartiya Group
  • Type: Mid-Market Residential
  • Size: 6.0 MM sf
  • Location: Bangalore
  • Developer: Mantri Developers
  • Type: High End Residential
  • Size: 1.33 MM sq

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