Arvind SmartSpaces’ (ASL) Board has approved the creation of the Rs 900 crore residential development platform with HDFC Capital Advisors as investment manager of HDFC Capital Affordable Real Estate Fund - 3 (HCARE - 3). The proposed investments from ASL and HCARE-3 will be Rs 300 crore and Rs 600 crore respectively in the platform.
The fund will be utilised for acquisition of new projects for residential developments in the cities of Ahmedabad, Bengaluru, Pune and Mumbai Metropolitan Region (MMR). ASL will set up a separate SPV (special purpose vehicle) to house the projects under this platform. The platform will create overall revenue potential of Rs 4,000-5,000 crore, excluding reinvestment potential.
Arvind SmartSpaces is engaged in to the business of Construction and Real Estate.
| Company Name | CMP |
|---|---|
| Lodha Developers | 871.70 |
| Dilip Buildcon | 457.55 |
| DLF | 601.80 |
| Oberoi Realty | 1710.00 |
| Ahluwalia Contract(I | 832.90 |
| View more.. | |
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