KKR infuses Rs. 300cr in realty project

In an attempt to make the most out of the emerging business avenues in the country's real estate sector, the global private equity major KKR's non-banking financial company (NBFC) has agreed to invest Rs 300-cr in two residential projects of realty developer Puranik Builders. The projects included Abitante and Aldea Espanola in Pune's Bawadhan and Baner localities currently under construction. This is KKR's first exposure to Pune real estate market, and as per the financing terms, the NBFC known as KKR India Assets Finance Pvt Ltd will also remain invested in both the projects until completion over the next six years. These projects are spread over a total 4 million sq ft, including 1.5 million sq ft in Aldea, said official sources.