Runwal Group buys out Warburg Pincus' 50% stake in retail realty JV for Rs.600-Cr

Warburg Pincus has completely exited its 50% stake in the joint retail development platform with the Runwal Group, via buyback by the developer partner. The private equity firm - which had invested equity capital of INR 250 crore in the JV platform in 2019 - has received an exit worth INR 600 crore. The JV platform had commenced work on two projects including a retail and office project spread over 1.2 million sq ft in Mumbai and a mixed-use project with around 5 million sq ft development potential in PCMC, Pune.