2015-04-29

Piramal invests Rs 225 crore in Ahmedabad based Ganesh Housing

The investment is towards a prime city centric land parcel situated close to Surdhara Circle in Thaltej, Ahmedabad.

Piramal invests Rs 225 crore in Ahmedabad based Ganesh Housing

In an expansion of the investment remit from select Tier I cities of Mumbai, Pune, Bangalore, NCR & Chennai, Piramal Fund Management (“PFM”) has invested Rs 225cr with a subsidiary of Ganesh Housing Corporation Limited (GHCL), a listed (BSE & NSE) and Tier I developer who is also a large land owner in Ahmedabad.

The investment is towards a prime city centric land parcel situated close to Surdhara Circle in Thaltej, Ahmedabad. The project, extending over 10 acres and 1.8m sq ft of saleable area, is envisaged to be developed as a mixed use scheme with a combination of residential apartments coupled with both commercial as well as a high street retail component. The deal has been structured as a fixed return investment with appropriate security and control mechanisms in place.

PFM is capable of catering to the entire capital stack – right from early stage equity to late stage debt and construction finance and is therefore able to act as a perpetual provider of capital for the real estate development life cycle.  In addition to a sizeable portfolio extending across the Tier 1 cities, PFM has been analyzing Tier II cities on a selective basis and intends to scale up its exposure to these locations gradually.

Khushru Jijina, MD, Piramal Fund Management, said, “We are pleased to be entering Ahmedabad with a sizeable transaction and are even more pleased to have found the right partner in Ganesh Housing – a developer of long standing repute and expertise in the local market. Our decision to expand our target geographies was based on a great deal of research in potential target locations and we found Ahmedabad to be a viable destination for investment and look forward to expanding our presence over time.”

Shekhar Patel, MD, Ganesh Housing said, “We are pleased to be partnering with Piramal Fund Management who has demonstrated a depth of understanding of real estate that we found to be unique.”

Related opportunities
  • Household & Consumer Products
    Zuooa is an online ordering app to help consumer to..
    Locations looking for expansion Jharkhand
    Establishment year 2023
    Franchising Launch Date 2023
    Investment size Rs. 5lakh - 10lakh
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Daltonganj Jharkhand
  • TTK Prestige Limited - India’s largest kitchen ware company is..
    Locations looking for expansion KARNATAKA
    Establishment year 1957
    Franchising Launch Date 2003
    Investment size Rs. 20lakh - 30lakh
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater BENGALURU KARNATAKA
  • Absolute Aesthetic and Wellness Experts for Perfect Skin, Hair, Obesity,..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Nagpur Maharashtra
  • Pharmacies
    Scott-Edil Franchise in India: Founded in February 2022, Scott Edil..
    Locations looking for expansion Chandigarh
    Establishment year 1996
    Franchising Launch Date 2023
    Investment size Rs. 2lakh - 5lakh
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chandigarh Chandigarh
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads