Altico to deploy $150 mn in office properties - Feedback

Non-banking financial company (NBFC) Altico Capital is looking to deploy $150 million (Rs 990 crore) over 12-18 months in commercial office properties and the infrastructure sector.

This is besides the $400 million it is looking to deploy in mid-income and affordable housing segments, said Sanjay Grewal, chief executive officer at Altico Capital. The NBFC is promoted by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners. “Altico plans to focus on extending credit to promoters, who have a track record of developing and leasing office space for early stages of development and construction financing as opposed to the late-stage lease rental discounting transactions,” Grewal said. Altico’s rival Piramal Capital is also looking to deploy Rs 5,000 crore in Bengaluru and Mumbai.

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