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
BS Reporter |
Last Updated at April 28, 2015 13:38 IST
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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Tue, April 28 2015. 13:26 IST