The downturn, in brief, failed to overawe Indian economy despite its ravages across the globe and Dubai crisis is trifling compared to that. Thus speaks the reinvigorated Indian realty sector and its vigor can be found through lots of real estate projects launches. One of these is surely Vatika Group, India’s capital-based well-known real estate and hospitality company, which raised Rs 1,000 crore from a group of international financial institutions such as Goldman Sachs, Baer Capital and Wachovia Bank in 2007.
It has been learnt that Vatika Group, at this point in time, is engaged in talks to get fresh funds from real estate investment firm Brahma Capital. When contacted, Pritam Chivukula, principal-real estate, Brahma Capital, said: “While we are active and looking at a couple of deals in the northern capital region, this is a mere speculation.”
Even though the exact deal size could not be ascertained, a senior executive in the private equity space said it is expected to be in the range of Rs 100-125 crore.
Vatika, which has interests in housing, hospitality, commercial complexes, IT parks etc, plans to make use of the fund to accelerate construction work in its up coming hotel project under the Westin brand on the Delhi-Jaipur expressway.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.