Private Equity

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Etonhurst Capital buys 37 luxury apartments in Mumbai’s Worli for Rs.500-Cr

Economic Times  

Mumbai-based Etonhurst Capital Partners has acquired 37 ready-to-move-in apartments in Central Mumbai’s premium residential area of Worli for over INR 500 crore. The portfolio was purchased from Piramal Finance, which had received the inventory through a debt settlement agreement with Omkar Realtors & Developers.The apartments are located in towers A and B of the Omkar 1973 project, which have received occupation certificates from the Mumbai civic authority. The residences include three- and four-bedroom units with carpet areas ranging from 2,000 to 3,800 sq ft, totaling approximately 80,000 sq ft.The development is currently priced below prevailing rates in Worli, where new and under-construction projects are selling between INR 1.20 lakh and INR 1.80 lakh per sq ft. The third tower of the Omkar 1973 project remains incomplete.Etonhurst has allocated around INR 50 crore for refurbishing the apartments before marketing them for sale.