Edelweiss Group’s realty fund infuses Rs 1,553 cr across different projects
The investments have been made in the projects of developers
The new real estate fund of Edelweiss Group has deployed Rs 1,553 crore across different projects of property developers in Mumbai and the National Capital Region (NCR).
The fund has invested Rs 380 crore in NCR’s BCC Group, Rs 356 crore in Mumbai’s Ruparel Group, Rs 291 crore in Naman Group, Rs 126 crore in Spark Developers, Rs 95 crore in Wadhwa Group, among others.
The investments have been made in the projects of these developers. The investments are structured debt deals, with expected internal rate of return (IRR) of 16 to 19.7 percent. The investments were made before the lockdown was announced.
The undisbursed amount of Rs 190 crore is expected to be distributed over the next two-three quarters to be utilised towards future project expenses.