You are here: Home » Companies » News
Business Standard

Piramal, HDFC, IIFL bet big on affordable homes, plan to invest Rs 256 bn

Piramal Finance, on Wednesday, said it would invest $2 billion (Rs 128 billion) in the next three years

Raghavendra Kamath  |  Mumbai 

Ajay Piramal, Piramal Housing Finance
Ajay Piramal, chairman, Piramal Enterprises

Finance, and IIFL, the biggest investors in real estate, are betting big on and planning to invest $4 billion (Rs 256 billion) in such projects. Finance, on Wednesday, said it would invest $2 billion (Rs 128 billion) in the next three years. It has identified an initial pipeline of Rs 30 billion in metros. “The five players in any big city will invest in and it is going take off in a big way.

We want to participate in this growth story,” said Khushru Jijina, managing director, Finance. Jijina said the company would offer end-to-end solutions such as construction, finance, equity, debt and marketing support for projects. has also set its sights on and has created a corpus of $800 million with global investor International Finance Corporation (IFC) for lending in the segment. India Infoline Finance Limited (IIFL), is planning to raise separate property funds worth $500 million each. “The segment has seen good sales velocity if the project is in the right market and of the right-ticket size,” said Amit Goenka, chief executive officer and managing director, Nisus Finance Services.

First Published: Wed, February 14 2018. 21:57 IST
RECOMMENDED FOR YOU