Altico Capital to invest Rs 5,000 crore in housing projects this year – Feedback

Non-banking finance company Altico Capital is planning to invest Rs 5,000 crore in residential real estate projects by March 2017 across India’s top property markets including Mumbai, National Capital Region, Bengaluru and Pune.

The company, backed by Clearwater Capital Partners, plans to invest another $1 billion (about Rs6,600 crore) in the country’s burgeoning property market in the next financial year, CEO Sanjay Grewal told ET. “Opportunity landscape for real estate financing is huge. While banks play an important role in real estate financing, NBFCs and funds have become a dependable source of capital as they can offer flexible structures, which are best suited for the sector,” Grewal said. Since the beginning of this fiscal the company, which also counts Varde Partners and Abu Dhabi Investment Council among its shareholders, has invested about Rs2,500 crore in 15 mid-income housing projects. “Our pipeline remains robust and we expect to execute transactions aggregating another Rs2,500 crore by the end of this financial year,” Grewal said.

http://economictimes.indiatimes.com/industry/banking/finance/altico-capital-to-invest-rs-5000-crore-in-housing-projects-this-year/articleshow/54786721.cms

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