RedFort Capital – 4,000 crores – 6 realty projects

July 31, 2008 at 11:31 am Leave a comment

Red Fort Capital, a private equity fund focused on real estate development, is in advance stages of negotiations with six developers for an equal number of projects worth Rs 4,000 crore in the metros across India.

The PE fund today joined hands with Godrej Properties to develop an IT park in Kolkata, where Red Fort Capital has picked up 49 per cent stake. The project, Godrej Genesis, is expected to generate sales of over Rs 750 crore.

“We are in the process of closing a number of transactions in the NCR, Mumbai and Bangalore. We are currently talking to six different developers in these cities,” Red Fort Capital Director Kuldip Chawlla told PTI.

Without divulging names of the possible builders, he said three of them are ‘big national developers’, while the rest are local players.

The company currently is evaluating one residential and one commercial project in each city, where the fund would pick up stake between 30 per cent and 80 per cent, he added.

More at Source


Entry filed under: Funds-Investments.

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