Business Daily from THE HINDU group of publications
Tuesday, Dec 04, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 04, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Venture Capital Vatika Group gets $250 m funding Our Bureau Mumbai, Dec 3 Realty and hospitality company Vatika Group has signed agreements with three international financial institutions, the Wachovia Bank, Baer Capital and Goldman Sachs, for financial participation in the company to the tune of $250 million. The disbursement of the funds has already commenced and the complete infusion will be wrapped up by the end of the first quarter of 2008. “The funding will help us in adding value to our existing projects, further consolidation of our land banks and acquisition of new projects at other locations in the country,” Mr Gaurav Bhalla, the company’s Director, said. The Vatika Group’s diversified real estate portfolio, with an estimated valuation of Rs 8,000 crore, comprises group housing, corporate office complexes, IT Parks and SEZs, retail complexes and integrated townships in Gurgaon, Ambala and Jaipur spread over about 2,000 acres, a company press release said. More Stories on : Venture Capital | Hotels | Real Estate & Construction
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