Altico targets Rs. 2,500cr for realty projects

Injecting a major booster to the real estate project, Altico Capital India, a non-banking financial company (NBFC) backed by Clearwater Capital Partners, has decided to invest a staggering sum worth Rs. 2,500cr in multiple realty projects. Most recently, it has infused worth Rs. 45cr to Guardian Developers, for its under-construction residential project at Kharadi in Pune thereby making its first investment in Pune. The project, in question is spreading over 10 acres and will have around 1 million sq ft of area. It is being developed under a joint development agreement and will primarily consist of 2-bedroom and 3-bedroom apartments. It may be recalled that Altico more recently has successfully closed five deals which include prominent transactions such as Rs. 725cr investment across multiple projects of realty firm Century Real Estate Holdings in Bengaluru and Rs. 450cr in a South Mumbai project which is a JV between Sanjay Chhabria promoted, Radius Developers and Sumer Group, said official sources, claiming that the company is on course to deploy the targeted funds by the end of the financial year 2015-16.

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