In a recent development, Ajay Piramal's Piramal Fund Management and Shapoorji Pallonji Real Estate Development have decided to infuse Rs. 300-cr in a real estate project launched by Mumbai-based developer Ornate Spaces. The duo, along with Ornate, will construct a 1 million sq.ft. residential project titled Grove Towers at Oshiwara in suburban Mumbai. The project managers claim to have received necessary approvals to start work on the site. Out of the planned outlay, 275-cr is debt-type funding by the Piramals; the rest is an equity investment by Shapoorji Pallonji Real Estate (SPRE), President & CIO of Shapoorji Pallonji Real Estate, Venkatesh Gopalkrishnan said, adding that the company likes to back real estate developers with good projects and clear land titles. The proposed project will have two towers of 38 floors each with modern and world-class amenities.
📅Published on:
17 September 2016
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
