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Ansal Properties and Infrastructure Ltd on Friday said that private equity firm Red Fort Capital will invest Rs 200 crore in a joint venture, which has been formed to undertake expansion of a residential township project in Gurgaon. “Red Fort Capital will invest a total of Rs 200 crore in the JV formed to develop an additional 108-acre township project adjacent to Ansal API's existing 112-acre Esencia township project in Gurgaon,” a company release said.
The details of the Esencia Extension township project is currently being worked out, it added. Commenting on the agreement, Mr Pranav Ansal, Vice-Chairman and Managing Director of Ansal Properties and Infrastructure Ltd, said, “This tie-up shows that the PE funds are still keen to invest in established companies in the real estate sector.” The project level PE funding is in line with the company's existing strategy to raise funds to fast track various projects, it added.
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