Piramal pushes Rs.400 cr in realty projects

Ensuring smooth flow of funds for real estate projects being built by Gurugram-based Advance India Projects Ltd. (AIPL), Piramal Group has sanctioned Rs.400 crore for completing AIPL’s on-going five projects. The projects included AIPL Joy Central, a four-acre, mixed-use development in Gurugram comprising commercial and retail development along with a multiplex. Piramal Finance, one of the largest lenders and investors in real estate, started funding office projects in early 2016 on the back of a steady growth in the commercial office segment when a prolonged slump in residential sales continued. It has deployed and sanctioned around Rs.5,000 crore in office projects across cities.

Published: 16 November 2017