Ajay Piramal's Indiareit invests Rs 200 cr in realty projects

Indiareit has invested Rs 100 crore in a slum redevelopment project of Omkar Realtors in Bhoiwada area in Central Mumbai

Indiareit Fund Advisors, the private equity arm of Ajay Piramal group, has made two investments worth Rs 200 crore in Mumbai and Pune.

Indiareit has invested Rs 100 crore in a slum redevelopment project of Omkar Realtors in Bhoiwada area in CK entral Mumbai from its Rs  400 crore Mumbai Redevelopment Fund.

The second deal pertains to its Rs 100 crore investment with Pune-based Marvel group in its projects in Pune, Bangalore, and Mumbai.

"In both these transactions, we have protected rises and have adequate cover. We are lookng returns of upwards 20 per cent", said Khushru Jijina, managing director, Indiareit.