ECL finance infuses Rs. 350-cr in realty project

    Road Widening Project
    ECL Finance, the non-banking finance arm of Edelweiss Group, has recently agreed to infuse Rs. 350-cr in the Mumbai-based Parinee Realty for its upcoming realty project named 'Exclusive' in Worli area of the metropolitan city, sources said, elaborating that the debt fund will be used to finance to execute the project. The developer has bagged the funding for tenure of four years. Edelweiss is one of the biggest players in the debt investment market. The realty project in question is a luxury residential venture being built on a 2.5 acre land. The project being constructed on an SRA land will house 108 units in the first phase with 46 floors offering 3,4, and 5 BHK flats at a starting price of Rs. 11-cr onwards and it is heading for completion in 2019. Parinee has upcoming projects including residential and commercial, which include one each in Mankhurd, Vakola, Borivali, Kandivali, Mulund, Chembur, Juhu, and Kalina, as of now, it has 24 projects under various stages of development and implementation.
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