Mantri Developer receives INR 145 crore from KKR for Bangalore Project


Bangalore, May 23, 2016: Mantri Developers Private Limited (“Mantri Developers”)has signed a definitive agreement with leading global investment firm KKR under which KKR will invest INR145 Crore in a luxury residential project in Bangalore developed by Mantri Developers

The development spans 1.3 million square feet of premium residential apartments.

Sushil Mantri, Chairman and Managing Director of Mantri Developers, said, “We are thrilled that a global investor like KKR has shown confidence in our high-end project and is confident about the real estate market in Bangalore.”

Sanjay Nayar, CEO of KKR India, said, “We are focused on providing long-term solutions to India’s real sector by financing the projects of experienced partners like Mantri Developers. This investment marks the start of a relationship with Mr. Sushil Mantri and his team, and underscores our confidence in Bangalore’s real estate sector and economic prospects.”

Corporate Comm India (CCI Newswire)