HDFC Capital Advisors invests Rs 375 crore in Mumbai project
New Delhi: HDFC’s wholly-owned PE arm HDFC Capital Advisors has invested Rs 375 crore in Runwal Group's housing project in Mumbai’s Kanjur Marg locality.
The project ‘Runwal Avenue’ is a mid-income and affordable housing project.
About Rs 210 crore of the total Rs 375 crore will be used to provide exit to the current lender of the project- Piramal Capital. The balance amount will be used for construction of the project.
Runwal Avenue is spread over 6 acres of land having potential of 1.7 million square feet of saleable space.
Piramal Capital had put in money in Runwal Avenue at land acquisition stage and is exiting now. The project was pre launched by the realty player in December 2020. It has garnered sales of 150 apartments so far, according to sources.