The scheme is targeting structured returns and had already deployed 10% of the Fund to its first deal -a INR100 Crore investment in a joint venture between Ashiana Homes and the Landcraft Group. The project is located in Sector 88A, Gurgaon which has excellent access from the existing Pataudi Road, and will benefit from upcoming developments including the under construction Dwarka Expressway, and the fast growing New Gurgaon region. The regular shaped land parcel is spread across 14 acres with a total saleable area potential of around
1.5m sq ft. The investment is structured to provide an assured minimum return along with an equity kicker, and is backed by adequate security cover.
Since then, the Fund has approved two new transactions - the first is aINR60 crore investments into a residential project in Mumbai and the second, a INR90 crore investment in Bangalore.
Piramal Enterprises is one of India's largest diversified companies, with a presence in pharmaceutical,
financial services and information management sectors. Piramal Enterprises had consolidated revenues of over $ 650 million in FY2013. In the pharmaceutical space, PEL is one of leading custom manufacturing player globally, has presence in the global critical care segment with a portfolio of inhalation and injectable anesthetics and its OTC business is ranked no. 7 in India. PEL is also engaged in drug discovery & research and has strong pipeline of development products. In the financial services space, PEL has a real estate focused PE fund - Indiareit and a NBFC that is focused on lending to real estate and education sector. PEL's information management business, Decision Resources Group is a leading provider of information based services to the healthcare
industry.www.piramal.com
For media enquiries, please contact: PIRAMAL ENTERPRISES Akansha Pradhan / Riddhi Goradia Corporate Communications, Piramal GroupContact: +91 22 3351 4082 / 4083 akansha.pradhan@piramal.com riddhi.goradia@piramal.com
PUBLIC RELATIONS CONSULTANTSJanhavi Bellare/ Mugdha Joshi
MSL India
Tel: +91-22- 33557500
Mobile: +91 9322854508/ + 91 9820326645
Janhavi.bellare@mslgroup.com /
mugdha.joshi@mslgroup.com
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