Piramal invests Rs.300-Cr in Cybercity's Hyderabad villa project

Piramal Capital & Housing Finance has invested nearly INR 300 crore to fund the construction of a new villa development project by Cybercity Builders & Developers in Hyderabad. The funds will be disbursed in tranches based on certain milestones.Part of the funding will also go towards acquiring land that Cybercity Developers bought from Phoenix Group. One of the subsidiaries of Phoenix Group had earlier purchased the land from erstwhile owner Gulf Oil India, a Hinduja Group company.