Altico Cap Invests ₹1,250 cr in 5 Realty Deals

December 21, 2017

Mumbai: Altico Capital, the non-banking finance company, promoted by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, has invested over ₹1,250 crore across five deals in Pune and Hyderabad. These investments are in line with the NBFC’s plan to deploy ₹3,000 crore in the second half of the current financial year, said a top company official.

Of these markets, Altico has invested ₹500 crore through two deals with Hyderabad-based Phoenix Group for construction and development of Information Technology Special Economic Zone (IT SEZ) projects.

In Pune, it has invested ₹375 crore with Marvel Group for a bouquet of projects, ₹240 crore with Pharande Group for development of a township project, and ₹130 crore with Mumbai-based Jatia Group for their residential project in Pune.

“These deployments reflect Altico’s continued focus on segments such as affordable and mid-income housing that makes up more than half of our current portfolio,” Sanjay Grewal, Chief Executive Officer, Altico Capital, told ET. “It further demonstrates our intent to build on our existing strategy of funding developers engaged in completion of their under-construction projects and increasingly focus on commercial and office real estate funding opportunities which currently stand at 15% of the portfolio.”

Recently, Grewal had said that Altico expects to deploy ₹3000 crore for the of 2017-18 in the backdrop of the government’s forwardlooking policies that make the real estate sector more robust, organised and transparent.

Back to recent news releases
Transparent Approach Simplified Execution.

Sub menu

Transparent Approach Simplified Execution.