This month’s edition of The CEO’s Desk comes from an upcoming tier-2 town in Maharashtra called Sangli (thanks in no small measure to my continued attempts of being an alpha sports dad!). Sangli is traditionally known for its grapes, raisins and turmeric and represents the true spirit of Maratha entrepreneurship, despite being far removed from the commercial and state capital of Mumbai. As some of you who have been reading this newsletter over the last few years may have observed, we are big fans of the India story coming of out Tier 2/3 towns – be it the services sector like Hospitality or the manufacturing sector like Automobile Ancillaries. We truly believe that the next 10-15 years of growth will come from cities like Nagpur,Baroda, Coimbatore, Lucknow, Jaipur Bhubaneshwar, Dhanbad, Vizag and Kochi.

Interestingly, some of our clients across the asset allocator spectrum including Indian /Global Family Offices as well as Fund Managers seem to be a lot more keen now to look at private deals emanating from some of these towns/cities rather than restrict their investments to the traditional mega cities like Mumbai, Delhi and Bangalore. The other side of the spectrum is also emerging as a strong force – ie a lot of families in these tier2/3 towns & cities are now looking to invest with fund managers or work on direct deals both within India as well as overseas as compared to traditional investments in real estate, gold and bank fixed deposits.

While we are talking of Real Estate trends in India, I cannot help but mention the new wave of excitement we are seeing in the Co Working Space across the country. While there have been a number of names getting listed on the bourses, there are still a number of niche player we are seeing emerging across the country that are growing their franchise by leaps and bounds with clear tailwinds from the GCC and Startup Sectors. This sector remains one of our hot picks for the next few years as India emerges entrepreneurship in a bigger way.

Before we end this edition, Sowmya and I would like to thank all our clients, partners and well- wishers who took out time to meet us in Mumbai inspite of the famous July rains – clearly there is never a dull day while you are on the roads of Mumbai ! We will soon be reaching out to some of you in Ahmedabad, Baroda, Chennai and Pune as we continue this leg of our 2025 Monsoon roadshows.

Till we meet next month, enjoy the lovely rains wherever you maybe!

Amar

Amar Kampani

CEO and Founder,

Kampani Capital (a Division of Anak Consulting LLP)

30th July 2025