Piramal lends Rs 2,000 cr under lease rental discounting scheme

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

Piramal Fund Management (PFM), financial services arm of Piramal Enterprises, has sanctioned investments worth about Rs 2,000 crore within three months of launching lease rental discounting (LRD) for completed commercial assets that include office and retail space, it said on Wednesday.

Of this, it recently approved two investments under LRD against assets in Mumbai and in the National Capital Region. The first one is of Rs 440 crore against Wadhwa Group’s commercial property  in the Bandra Kurla Complex (BKC). The second investment is of Rs 580 crore against ASF Group’s information technology Special Economic Zone