Piramal Fund Management

Funds raised through three tranches will be used for onward lending, refinancing, debt repayment and short-term investments, says the Piramal Enterprises NBFC arm

Piramal has roped in Kalpesh Kikani as Chief Executive Officer

The transaction, facilitated by property consultant JLL, included sale of a prime commercial land parcel on Richmond Road in Bengaluru's central business district to SNC

It has recently approved two investments under LRD against assets in Mumbai and NCR

PFM has expanded its product offerings, portfolio companies and geographical reach to enable a steady growth

Offers higher loan to value, flexi repayment

It said this funding will enable Lodha to complete and deliver marquee projects in south and central Mumbai

The JV to help Ajay Piramal-promoted Piramal Fund to take exposure to debt & equity needs of developers

It has emerged as the largest lender to real estate developers at a time when the sector is facing severe slowdown

The investment is towards construction of premium residences being developed by Lodha Group in a project with more than five lakh square feet of saleable area

Plans to lend up to Rs 15,000 crore to select builders in Mumbai, Delhi, Bengaluru, Pune and Chennai over the next year and a half