MORE till date has invested capital in the real estate sector through three real estate funds and PMS/ Prop investments. Today, cumulative AUM under MORE stands at more than INR 2,100 crore spread across IREF (INR 200 crore), IREF II (INR 500 crore), IREF III (INR 1030 crore) and balance under PMS / Prop Investments.
Track2Realty-Agencies: Following relaxation in SEZ norms, debt-laden property developer HDIL has decided to scrap plan to sell the 70-acre land parcel at Kochi Special Economic Zone and is now looking to construct IT infrastructure there.
Track2Realty: India Ratings & Research (Ind-Ra) maintains a negative outlook on the infrastructure sector for H213, largely due to unfavourable macro-economic variables and project level stresses.
Track2Realty-Agencies: Two more entities have received market regulator SEBI’s approval to set-up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds.
Indian real estate companies, which borrowed heavily during the peak of the economic cycle and rosy business forecast, are now caught in the vortex of piling debt post-slowdown. Most of the realtors who went on a land bank acquisition with borrowed money are struggling to repay even the interest and banks look reluctant to restructure the debt any more.
Ansal Properties & Infrastructure plans to expand its two big…
ArthVeda Fund Management (AVFM), a fund management arm of Dewan Housing Finance Corporation (DHFL), India’s 3rd largest mortgage finance company, has launched its second real estate fund – ArthVeda Star.
Omaxe Ltd expects net debt to fall to Rs.880-890 crore by March 31 as it plans to repay debt over the next three quarters, mainly from operations, a top official said on Tuesday, August 9.
Tata Realty Initiatives Fund-I, managed by Tata Realty and Infrastructure Ltd, has bought over Kotak India Real Estate Fund-I, a $100 million (Rs.450 crore) fund managed by Kotak Realty Fund in Peepul Tree Properties Pvt. Ltd for Rs.385 crore.
Om Chaudhary, CEO or Fire Capital Fund has a word of caution for Indian realty market and he believes that while there’s a huge hunger line for the realty, FII’s inflow can be a matter of concern since China is going to control the GDP.