Piramal lends Rs 225 cr to Ahmedabad developer

Land was bought for Rs 389 cr, wherein Ganesh Housing brought in Rs 189 cr and Piramal brought in Rs 200 cr

Piramal Fund Management, part of Piramal Enterprises, has lent Rs 225 crore to Ahmedabad based Ganesh Housing to buy land in Ahmedabad.

The land was bought for Rs 389 crore, wherein Ganesh Housing brought in Rs 189 crore and Piramal brought in Rs 200 crore and additional Rs 25 crore was lent for working capital.

The land located at Surdhara Circle in Thaltej, Ahmedabad has saleable area of 1.8 million sq ft.