1. Home
  2. >

Built to inform

Sign up for the daily newsletters

No, Thank you

Red Fort Capital to invest in Parsvnath project

Parsvnath Developers Limited (PDL) has signed an agreement with leading international real estate private equity fund Red Fort Capital to invest in its premium luxury residential project in Khyberpass, Civil Lines, Delhi. Parsvnath Landmark Developers Pvt. Ltd, (PLDPL) a wholly owned subsidiary of PDL is executing this project called Parsvnath La Tropicana.
Spread over an area of 16.84 acres, it will have a saleable area of approximately 1.9 million sq. ft.
The construction of the project is expected to commence shortly as PLDPL has received all requisite approvals including sanction of building plans by the Municipal Corporation of Delhi besides various other approvals such as environmental clearance etc.
PDL and PLDPL have entered into agreements with Red Fort Capital, which would be investing Rs 90 crore into PLDPL for subscribing 18% equity interest. The project is expected to be completed in three years and is forecast to generate revenues of about Rs 1,300 crore.

Most Popular

Awards

Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore

Conferences

Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

June 2020
10 Jun 2020