SARE Homes get Rs 200 cr investment from KKR for G'gaon proj

FDI-funded realty firm SARE Homes has raised about Rs 200 crore from global investment firm KKR for the development of its township in Gurgaon.
SARE Homes, having operations in India since 2006, is promoted by London-based Duet group, a global asset and real estate management firm.
According to sources, the company has raised about Rs 200 crore from KKR sponsored non-banking financial company (NBFC).
The fund would be utilised on development of the company's various projects in the Gurgaon township, they added.
When contacted, Sare Homes MD Vineet Relia refused to comment on the funding.
In January this year, KKR had announced setting up of a NBFC to provide structured credit solutions to the Indian real estate sector, with an investment from GIC, Singapore's sovereign wealth fund.

Last month, Townsend Group, investment management solutions provider, invested an undisclosed amount in the KKR-sponsored and managed NBFC.

The Gurgaon-based Sare Homes is developing seven townships across the country covering over 30 million sq ft of area. Apart from Gurgaon, SARE Homes has presence in Chennai, Ghaziabad, Amritsar, Indore and New Mumbai.
Its assets in India are valued at Rs 4,100 crore. The company's equity is being held by global institutional investors such as Forum Partners and Goldman Sachs Principal Strategy Asia Ltd.
In July this year, SARE Homes launched a sport-centric housing project 'Olympia' in Gurgaon with an investment of about Rs 250 crore.

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.