Private Equity

Other Private Equity/Strategic Investments

Joyville Shapoorji Housing to raise new funds for land acquisition

Economic Times  

Realty platform Joyville Shapoorji Housing, which is to invest INR 700 crore in land acquisition, is exploring multiple options for raising funds. The INR 1,240-crore platform was established by Shapoorji Pallonji with PE investors Actis, International Finance Corporation (IFC) and Asian Development Bank (ADB) for the development of housing projects. The company is looking to take the project count to 17–18 in the next 18 months from 11 now. The company has deployed close to INR 1,000 crore. The balance of INR 240 crore will also be deployed in Pune, where it is in talks for an acquisition. Funds from this platform are used only for land acquisition and construction.