Mumbai, March 09, 2017: Piramal Realty is investing Rs. 1,800 crore on its upcoming residential project in Mulund suburb of Mumbai. The company said post demonetisation it is seeing good traction both in commercial and residential sales and it will be on course to achieve its sales target of Rs. 1,250 crore for 2016-17.
“We are confident of achieving our sales target of Rs. 1,250 crore for the 2016-17. While commercial sales account for 35 per cent of our portfolio, the balance will come from residential,” Anand Piramal, Executive Director, Piramal Group, told BusinessLine.
Speaking on the project Piramal Revanta, Piramal said that the company will be making the investment through a mix of debt and equity.
“We will be using the funds from Goldman Sachs and Warburg Pincus to develop the project. We have already received commencement certificate of our project,” he said.
In 2015, PE giant Warburg Pincus and financial services firm Goldman Sachs had separately invested Rs. 1,800 crore and Rs. 978 crore in Piramal Realty.
Piramal said that the project is expected to be completed in five to six years time period. –The Hindu Business Line
Conceived as a first-of-its-kind integrated knowledge system, the series addresses the critical gap between information…
The publication will connect policy, projects, investment, regulation, urban development and consumer interests through dependable…
Mumbai, October 12, 2026: Following an overwhelming response to Crest Avenue, its premium residential development…
Bengaluru, October 12, 2026: As Bengaluru expands, its growth is increasingly being shaped by multiple…
Mumbai, October 09, 2026: Civitech Developers has announced that Civitech Strings, its premier residential project…
New Delhi, October 09, 2026: Tathastu Resorts has expanded Tathastu Pench to 84 rooms, adding…