Piramal integrates realty finance businesses

Piramal Enterprises today said it has integrated its real estate sector-focussed equity and debt entities to form one of the largest realty funding platforms in the country.
"Integrating debt and equity platform into a combined entity will ensure that we are best positioned to gain valuable information, skills and insights," billionaire Ajay Piramal, chairman of Piramal Enterprises, said.
The new entity, christened Piramal Fund Management, is formed by integrating the private equity business Indiareit and the lending arm Piramal Finance, the company said in a statement.
It will offer solutions on private equity, structured or mezzanine equity, structured debt, senior secured debt and construction finance, the statement added.

On the equity side, it manages or advises over Rs 7,550 crore of funds, including five domestic funds, one offshore fund, three third party mandates and a separate account with Canadian Pension Plan Investment Board (CPPIB), it said.
As part of the proprietary debt loan book, it has disbursed Rs 3,000 crore, the statement said.

With the integration, the team strength of the combined entity will now go up to 60 having skill-sets on the origination, underwriting and monitoring.
In the last three months, the combined entity has deployed over Rs 2,400 crore in projects, it added.
Piramal Enterprises is a diversified company having interests in pharmaceuticals, financial services and healthcare information management.