Altico earmarks Rs.1, 575-cr for realty projects

As a part of its focused strategy to stay invested in the country's real estate sector, Altico Capital India, a renowned player lending funds to realty developers, has recently cleared a staggering investment worth Rs. 1,575-cr of which it has targeted Rs. 575-cr for projects in Mumbai, Pune and Bengaluru and an amount worth Rs 600-cr will be invested in the upcoming quarter, CEO Sanjay Grewal said, elaborating that Altico's core strategy is to build a stable business deploying Rs.2,500-cr in Tier 1 cities each year.

In Pune, Altico has entered into a multi-project financing arrangement with Marvel Developers and its second transaction is with Midcity group, which has brown field projects in prominent locations in Mumbai. In Bengaluru, following its transactions with Century and Skylark earlier this year, it is financing Unishire against a portfolio of five projects. This year it expanded footprint from Mumbai, NCR and Chennai to Bengaluru and Pune and next year, iit is adding another city, he claimed.