 "Piramal opens purse strings for builders")
Global investment firm KKR will invest Rs 145 crore in Mantri Developers' luxury housing project in Bengaluru.
"Mantri Developers has signed a definitive agreement with leading global investment firm KKR under which KKR will invest Rs 145 crore in a luxury residential project in Bangalore developed by Mantri Developers," the Bengaluru- based realty firm said in a statement today.
The development spans 1.3 million sq ft of premium residential apartments.
"...A global investor like KKR has shown confidence in our high-end project and is confident about the real estate market in Bangalore," Mantri Developers Chairman and Managing Director Sushil Mantri said.
Sanjay Nayar, CEO of KKR India said, "We are focused on providing long-term solutions to India's real sector by financing the projects of experienced partners like Mantri Developers."
This investment underscores the company's confidence in Bengaluru's real estate sector and economic prospects, he added.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.
Mantri Developers was founded in 1999 and it has built over 28 projects. The company has constructed around 18 million sq ft area and over 23 million sq ft area is under various stages of construction.
