Parsvnath Developers (PDL), one of India`s leading real estate and infrastructure providers has inked an agreement with leading international real estate private equity fund Red Fort Capital to sell 4% additional stake for Rs 250 million in its premium luxury residential project at Civil Lines, Delhi.
With this additional stake the total investment of Red Fort Capital Parsvnath La Tropicana will increase to Rs 1, 150 million from Rs 900 million.
Pradeep Jain, chairman, Parsvnath Developer said, “Red Fort Capital`s further investment in the project is a healthy indication of the immense faith investors have in Indian real estate sector and also their confidence in the execution capabilities of Parsvanath.“
Parry Singh managing partner, Red Fort Capital, said, “Our follow on investment in Parsvanath La Tropicana stems from our confidence in the project, its excellent location and its potential to be world class development in north Delhi.“
Source: My Iris