Private Equity

PE Fund Investments

Tata Realty, Actis to invest over Rs.5,000-Cr in Navi Mumbai commercial project

Economic Times  

Tata Sons' real estate development subsidiary Tata Realty and Infrastructure Ltd (TRIL) is planning to invest over INR 5,000 crore to undertake development of a 47.1-acre integrated commercial project, its largest ever such development, in Navi Mumbai's Ghansoli locality. The company counts global institutional investor Actis as its key equity partner for this project to be known as Intellion Park, which will mark the Tata Group firm's foray into development of data centers. The project will be developed in 3-4 phases over the next 7 years. The work on the first phase with an IT park spread over 0.5 million sq ft will commence immediately. TRIL, a 100% subsidiary of Tata Sons, has a portfolio of over 50 projects across 15 cities. It has so far developed over 15 million sq ft of commercial projects and has nearly 12 million sq ft of projects under development and planning.