Piramal to give Rs 400 cr loan to AIPL for commercial projects

Previously, Piramal had also invested Rs 140 crore towards AIPL Peaceful Homes

Piramal group on Monday said it has sanctioned Rs 400 crore loan to realty firm AIPL for the development of commercial assets in Gurugram.

"Piramal Group has sanctioned Rs 400 crore loan against AIPL group's commercial assets including 'AIPL Joy Central' which will be the group's marquee commercial mixed use project located in Sector 65, Gurugram just off Golf Course Extension Road," the company said in a statement.

The project will be spread over 4 acres and will comprise commercial and retail development along with a multiplex, Piramal group said in a statement.

Piramal Group had extended Rs 120 crore loan with the