PFM pushes Rs.10,000 cr in real estate

    Piramal Group
    The financial services arm of Piramal Group, Piramal Fund Management (PFM), has pushed over Rs. 10,000 crore investments in South India in areas including Bangalore, Hyderabad, and Chennai. As a matter of fact, the player has invested in both existing realty projects and newer ones by forming relationships with tier 1 developers, and also by leveraging its ability to sanction large deals across the capital stack. The fund invested in Adarsh Group is Rs.1,000 crore, and Rs.1,050 crore in Ozone Group. The company will extend its partnerships in South India by underwriting multi-city portfolios with existing and new Tier 1 developers. Building on the complementarities that exist in both marketing and execution across the region, a number of tier 1 developers from Bangalore such as Prestige, Purvankara, Salarpuria, and Mantri, have forayed into Chennai and Hyderabad, said BijayAgarwal, Managing Director, Salarpuria Sattva, adding that PFM‘s exposure in the south extends across residential and commercial segment including a recently launched flexible Lease Rental Discounting (LRD) product and customized funding for plotted land developments across the region, he claimed.
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