Piramal Fund Management has invested over Rs. 110 crore in Habitat Ventures, a Bengaluru-based property developer.
Piramal’s investment in Habitat’s projects is a combination of debt and equity, unlike other investments which are debt-based. This is the first investment by Piramal in Habitat Ventures, which has till date developed 2.5 million sq ft of residential, commercial and plotted space in Bengaluru. Habitat Ventures has offered three residential projects to meet the growing demand in Bangalore’s mid-segment housing. The organisation totally presents around 900 residential units housed at Habitat Iluminar, Habitat Eden Heights and Habitat Aura located off Mysore Road, Whitefield and off Bannerghatta Road respectively. Commenting on the launch of Habitat Iluminar, Shivaram Kumar Malakala, Co-founder and Joint Managing Director, Habitat Ventures, said, “There is a continuous demand for efficiently built homes at affordable prices in accessible and convenient localities, we are confident of a high absorption rate of our projects.”