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    Altico plans Rs. 5,000-cr for housing sector

    Altico Housing Sector
    Altico Capital, which is a non-banking finance company, has decided to invest Rs. 5,000-cr in residential real estate projects in the next six months across India's top property markets including Mumbai, National Capital Region (NCR), Bengaluru, and Pune. The company, backed by Clearwater Capital Partners, plans to invest another $1 billion (Rs. 6,600cr) in the country's burgeoning property market in the next financial year, CEO, Sanjay Grewal said, adding that opportunities in the realty landscape for financing is huge. While Banks play an important role in real estate financing, NBFCs and funds have become a dependable source of capital, as they can offer flexible structures, which are best suited for the sector. Since the beginning of this fiscal, the company, which also counts Varde Partners and Abu Dhabi Investment Council among others, has invested about Rs. 2,500-cr in 15 mid-income housing projects and the pipeline remains robust and the player expects to execute transactions aggregating amount by the end of this financial year.
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