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.