Comments
The private equity real estate arm of the global investment firm Xander Group has invested Rs 370 crore in Kapstone Constructions, the group company of Mumbai-based developer Rustomjee.
The capital received will be utilised for reducing debt and for further growth of the Rustomjee group.
Boman Irani, Chairman, Rustomjee, said: “This is the fifth private equity investment in our company. Xander group’s extensive industry knowledge and global experience will add significant value to our company.”
Rohan Sikri, Partner, Xander Investment Management, said, “Rustomjee is well positioned to capitalise on their development expertise across townships, premium residential projects and redevelopment schemes in Greater Mumbai and this investment is representative of our continuing investment interest in the Indian real estate market for well-positioned projects with quality partners.
Kapstone Constructions is currently developing Rustomjee Urbania township in Thane spread across 127 acres.
The Xander Group is a global investment firm focused on the infrastructure, hospitality, retail and real estate markets. Since 2005, the firm has committed over US$ 2 billion of capital to the Indian market across private, public and credit investments.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.