Mumbai-headquartered Non-banking finance company , Altico Capital has invested Rs 130 crore in two residential projects in Mumbai and National capital region.
Altico Capital has closed a Rs 50 Cr transaction with Noida based Lotus Greens group for a residential project named ‘Arena I’, which is part of a larger Sports City development at Sector-79, Noida. The funding proceeds will be utilized for construction of the project. The fund has earlier invested Rs 450 cr, with the builder. Sanjay Grewal, CEO for Altico Capital, “This is first investment in the NCR region after 15 months. We believe that it will take some time for sales to pick up in NCR and therefore will be very deliberate in putting capital to work in this market. Altico Capital focuses on senior secured lending to residential projects in the Real Estate sector across Tier-1 cities in India. Altico Capital is backed by strong financial sponsors in Clearwater Capital Partners, Abu Dhabi Investment Council and Varde Partners.