IDFC secures Rs. 475-cr for realty projects

    IDFC Fund Realty Projects
    In an attempt to make the most out of the emerging business avenues in the country's real estate sector, the IDFC Alternative funds, the asset management arm of infrastructure-focused lender IDFC, has secured funds to the tune of Rs. 475-cr under its real estate focused IDFC Score Fund, said an industry insider, claiming that the five-year fund will be getting invested in residential projects across top seven property markets, including Mumbai, Delhi-National Capital Region, Bengaluru, Pune, Chennai, Hyderabad, and Kolkata. The fund is looking to invest only in projects that have secured approvals and are aiming for gross annualized returns of 20-21%. Under its third fund, IDFC's private equity arm is looking to raise total Rs. 750-cr and plans to deploy it through structured debt in mid-income housing projects.
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