Altico Capital, which is a non-banking financial company of national repute, has recently infused Rs. 200-cr in the Bangalore-based Legacy Group engaged in the construction of real estate projects. In this connection, Altico Capital has entered into a portfolio-based funding with the developer covering several projects spread across Central and North area of the city, currently at various stages of execution including those at late stage nearing completion, providing multiple and diversified sources of cash flows for debt servicing.
The funding would be made in tranches and is proposed to be used by the developer towards refinancing existing debt and for construction funding across projects, said official sources, claiming that the realtor has delivered over a million square feet with another 4-5 million sq. ft. under various stages of execution. Chief Executive Officer, (CEO), Altico Capital, Sanjay Grewal said that the company is extremely delighted to partner with the Legacy Group which is a well-known brand in the Bangalore real estate market.