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Piramal Fund Management lends Rs 2,320 cr to Lodha Group

It said this funding will enable Lodha to complete and deliver marquee projects in south and central Mumbai

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Piramal Fund Management

Raghavendra Kamath  |  Mumbai 

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In one of the biggest debt deals in real estate in recent years, Piramal Fund Management has lent Rs 2,320 crore to the Mumbai-based Lodha Group. Lodha, the country’s biggest property developer in terms of sales, recently got a Rs 425-crore investment from Piramal for its Lodha Venezia project in Mumbai.

Piramal Fund, part of the Ajay Piramal entity, has committed the latest money across Lodha’s multiple projects, to replace existing debt. “This funding will enable Lodha to complete and deliver marquee projects in south and central Mumbai. The deal has been structured as a ...

First Published: Fri, September 02 2016. 00:44 IST
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