Altico entered into a multi-project financing arrangement with Marvel Developers, Pune. Additionally, it concluded its second transaction with Midcity group, a developer having brownfield projects focused on society redevelopments in prominent locations in Mumbai. The third was in Bengaluru financing Unishire against a portfolio of five projects, a company release said.
The company expects similar amount of disbursements of around Rs 600 crore in the next three months.
"Altico continues to focus on its core strategy and looks to build a stable business deploying Rs 2,500 crore in Tier 1 cities each year. We expect to close out similar amounts of disbursements of around Rs 600 crore in this upcoming quarter," Altico Capital CEO Sanjay Grewal said.
"This year we expanded our footprint from Mumbai, NCR and Chennai to Bengaluru and Pune. Next year we may add another city to our target markets. Outside of the core strategy, we will look to deploy incremental capital in the commercial real estate and infrastructure sectors should the right opportunities present themselves," Grewal said.
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Meanwhile, the Altico Capital Board has approved raising of funds up to Rs 2,000 crore through a mix of instruments and funding sources including bank lines, commercial paper and NCDs in order to support the asset growth plans.
Altico Capital recently roped in banking veteran Naina Lal Kidwai as an independent non-executive director on its board.