Godrej Fund in talks with Bengaluru-based developer for Rs 1,200-cr deal

If the deal fructifies, it will be one of the biggest commercial property deals in the country this year

Godrej Fund Management (GFM), the private equity arm of Godrej Group, is in the final leg of talks with Bengaluru-based developer Puravankara to acquire 1-million square (sq.) feet (ft) commercial property in the Byappanahalli area of the Karnataka capital from it, said sources in the know.

The deal is expected to close at Rs 1,200 crore. It will be structured as a forward purchase agreement wherein the seller will sell the property at a future date at an agreed value after completing it.

If the deal fructifies, it will be one of the biggest commercial property deals in the country