INSUBCONTINENT EXCLUSIVE:
Kotak first invested in Alliance Group's residential project in 2016Chennai-based real estate firm Alliance Group has raised around Rs 165
crore from Kotak Realty Fund against an ongoing residential project in Chennai.The structured debt deal is against an affordable housing
It has taken Kotak Realty Fund's total commitment to around Rs 800 crore across five projects in Chennai and Hyderabad.Alliance Group's
project on Old Mahabalipuram Road is spread across 12.5 acres and has 4,000 units priced at Rs
30-55 lakh eachWe closed two deals with Kotak during the pandemic and expanded our relationship to the Hyderabad market too
The latest round of funding was used to provide an exit to Indostar," Alliance Group chairman Manoj Namburu said.Kotak first invested in
Alliance Group's residential project in 2016, from its $400 million fund raised from Abu Dhabi Investment Authority in 2014.The group
currently has 20,000 homes under various stages of construction and plans to build 50,000 units over the next three years."There are a lot
of tailwinds, but having a strong financial partner helps us expand quickly
There is always an opportunity in diversity," said Namburu.The firm is also in talks with institutional funds for a warehousing platform
space, apart from increasing its footprint in the commercial sector.This story is provided by India PR Distribution
ANI will not be responsible in any way for the content of this article.
