Apollo Global Management bets big on Indian realty with $1-billion plan

Apollo Global Management is planning to lend about $1 billion to developers in India this year, betting on a recovery in the residential property market as the pandemic eases.

That’s up from the $750 million that Apollo lent to Indian developers last year, with two-thirds of that sum directed to residential projects, according to Nipun Sahni, a partner at the private equity firm. About 70 per cent of this year’s lending will go to home builders and the rest to commercial developers.

“The market volumes are back to pre-Covid-19 level and in some markets it’s higher than 2019,” Sahni said in an