Piramal Realty, the real estate development arm of Piramal Group, has forayed in the commercial real estate segment. The developer has launched a corporate park located on the arterial LBS Road in Kurla suburb of Mumbai.
“Complementing the success of our residential properties, we are now creating a commercial landmark that will lay solid foundation for a unique business culture. Kurla is a rapidly changing urban blend of residential colonies, industrial estates and commercial enclaves. We believe, Piramal Agastya will add to the overall socio-economic development of the landscape and break new ground as the business environment of the future,” said Anand Piramal, executive director, Piramal Realty. For phase I of this project, the company has borrowed Rs 700 crore in loan syndication with Standard Chartered Bank being the lead banker.