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    Marvel realty secures Rs.150-cr infusion

    Marvel Realty Piramal Fund Management
    In a recent development in the country's real estate sector, Pune-based Marvel Realtors generated about Rs. 150-cr in a structured financing deal from Piramal Fund Management and the funds will be invested to complete its residential project in Pune. It is worth mentioning here that Piramal Fund Management is the realty arm of Piramal Enterprises. The realty company acquired a 3-acre land parcel auctioned by the German government some time back. The deal has two projects Isola (at NIBM Road, Pune) and Fria at Whagholi also in Pune, said Managing Director, Piramal Finance, Khushru Jijina, claiming that both are mid-income residential projects with phase I being completed and delivered. All approvals for the projects in question are in place for phase II and the construction work of this phase is currently in full swing.
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