Piramal, Canada's CPPIB form $500m realty investment fund

Piramal Enterprises Ltd has formed a strategic alliance with Canada Pension Plan Investment Board

RELATED ARTICLES

(CPPIB) to provide rupee debt financing to residential projects in Indian cities, the company said on Wednesday.

Piramal and CPPIB will initially invest $250 million each in the venture, which will focus on providing project-level debt to local developers across Mumbai, Delhi region, Bangalore, Pune and Chennai markets, it said.

The diversified Piramal Group, which owns an 11 percent stake in Vodafone India Ltd -- the country's second-biggest telecoms carrier, had launched its financial arm in 2011 with a focus on the real estate sector.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Amit Shah deserved to be crowned President of India, some say

    The Bharatiya Janata Party is now firmly in the hands of Modi’s alter ego, which in plain English means ‘another side of oneself, a second self’

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Necessary yet inadequate boost to education

The finance minister, in the very first minutes of his ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture