Majority of this will go towards construction of current projects including the investment of Rs 4,300-cr in a residential project Piramal Aranya in Mumbai's Byculla locality where the project is spread over an area of seven acres and has a development potential of 3.7 million sq. ft. on a land parcel it acquired next to Byculla zoo from textile major Mafatlal Industries for Rs 606-cr and is now launching the project after securing all approvals where it is building three-and four-bedroom apartments priced at Rs 8-cr and Rs 12-cr, respectively, Executive Director of the Piramal Group, Anand Piramal, said elaborating that the player is scouting for opportunities in land acquisition and joint development space. International investors Goldman Sachs and Warburg Pincus infused about $434 million in Piramal Realty last year, the largest private equity commitment to Indian real estate.
