PE-RE Fund Investments
HDFC Capital, Runwal Group to invest Rs.1,150-Cr in affordable housing projects
HDFC Capital, the real estate private equity arm of HDFC Group, has formed a partnership with realty developer Runwal Enterprises to set up a platform for developing residential projects for affordable, mid-income and upper mid-income families.Under the deal, HDFC Capital-managed funds will invest more than INR 1,150 crore - in a mix of equity and structured debt - to Subodh Runwal-promoted Runwal Enterprises. The proceeds will be used to support the creation of special purpose vehicles (SPVs) for land acquisition and working capital for new projects of Runwal Group in the Mumbai Metropolitan Region (MMR).
INR 375 Cr in the mid-income and affordable housing project Runwal Avenue in Mumbai's Kanjur Marg and INR 500 crore in a 115-acre township project in the Dombivli suburb of Mumbai .
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