Piramal Fund Management Sanctions Investments of around INR 2000Crore within three months of launching of Flexi Lease Rental Discounting (LRD)

piramalBy Accommodation Times Bureau

  • Approves INR 440 Crore for The Wadhwa Group’s marquee commercial asset in Mumbai
  • Additionally, approves INR 580 Crore for ASF Group’s IT SEZ in Gurgaon


Wednesday, 15thFebruary 2017, Mumbai: Piramal Fund Management (PFM), the financial services division of Piramal Enterprises, has sanctioned investments worth approximately INR 2000 Crore within three months of launching Flexi Lease Rental Discounting (LRD) for completed commercial assets that include office and retail space.


Further, it has recently approved two investments under Flexi LRD against marquee assets in Mumbai and NCR. The first investment is of INR 440 Crore against The Wadhwa Group’s commercial property which is located in the prime business district of Bandra Kurla Complex in Mumbai. The second investment is of INR 580 Crore against ASF Group’s IT SEZ development – ‘ASF Insignia’ in Gurgaon. Prior to these, PFM has earlier approved Flexi LRD transactions with Reliable Group in Mumbai and Mantri Group in Bangalore.


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