Several private equity funds and non banking finance companies have stepped up active monitoring of their investments in real estate amid concerns over delays in completion of projects and the consequent returns. Indiabulls Asset Management, Milestone Capital Advisors and NBFCs such as Xander Finance have either set up in-house teams to monitor investments or are bringing in third-party firms to monitor costs of projects, request for quotation (RFQs) for vendors,Management Information System (MIS) reports ,sales and escrow accounts, among many other aspects. Ambar Maheshwari CEO for private equity funds at Indiabulls Asset Management Company, which has a four-people asset management team that works alongside the asset management business of the Indiabulls group said,''Investors today are far more involved in monitoring projects so that they can help take corrective measures much before something goes wrong in a project ''. Milestone Capital too has in-house property management expertise which it utilises in active management of its investments. Rubi Arya, executive vice president of Milestone Capital Advisors said mutual fund managers keep reshuffling portfolios to gain from market movements, which is not a practice in private equity, and hence there is a critical aspect of investment monitoring. "By moving from pure investing models to investment management models, a fund manager can not only monitor the investment well but also offer various value additions to create a possibility of a better valuation for exit," she said. Arya said that this helps create additional incentives for the developer partners to provide timely exits even in cases where projects may be struggling to meet their deadlines. "In a few extreme cases, we have not shied away from taking control of the project and bringing the development back on track to provide it the expected exits," she said. According to data from property research firm Liases Foras, a third of more than 25 lakh apartments launched between 2008 and 2014 were delayed by at least a year .Today, some of those limited partners are employing third party monitors to safeguard theiinvestments that might be stuck.