Realtors hiring from PEs, banks to raise funds in liquidity-short sector

Real estate companies are hiring senior executives from private equity (PE) firms or with banking and consulting backgrounds as they look to raise funds and sell assets to energise their balance sheets in the liquidity-short sector.
 
Most property developers are in dire need of funds after non-banking finance companies (NBFCs) began cutting disbursal after the IL&FS default, say consultants who deal with realty companies.
 
Recently, Gurugram-based developer M3M India hired Ritesh Agarwal in a corporate strategy role. He had been vice-president at Edelweiss Capital and associate VP at ICICI Prudential AMC. Before joining M3M, he was an independent