Purva Asset Management Private Limited
Purva Asset Management Private Limited, a subsidiary of Puravankara Ltd, has formed a 750 crore alternative investment fund (AIF) to engage in affordable housing and planned developments. It intends to raise 500 crore for the fund, with a greenshoe option of 250 crore, from mostly domestic investors. The first fund will invest in six to eight mid-sized affordable housing projects with a four-year development timetable and plotted projects ranging from 1.1 to 1.5 million square feet. Bengaluru, Pune, Chennai, Hyderabad, and the Mumbai Metropolitan Region would be the sites of the projects.
*Image used if any in this post is for illustration only
Note: The above-mentioned project news is taken from ProjectX India | 1st May 2022 edition. Click here to buy this issue.