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Piramal Enterprises’ arm sanctions Rs 200 crore facility for Appaswamy Group

19 Jun 2018 Evaluate

Piramal Enterprises’ subsidiary company -- Piramal Capital & Housing Finance has sanctioned an Rs 200 crore facility for Appaswamy Group through a structured equity transaction to enable the acquisition of 3.34 acres of land at Kotturpuram in Chennai in the state of Tamil Nadu. The company plans to develop a premium residential project with potential sales revenue totalling in excess of Rs 1,000 crore.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

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