PE-RE Investments in India during Apr-Jun 2016: 16 deals, $579 Million
Private Equity-Real Estate firms made 16 investments (amounting to $579 million) during the quarter ended June 2016, according to data from Venture Intelligence. The volume of investments was down about 23.8% from the 21 investments (worth $868 million) in the same period in the previous year. However compared to the immediate previous quarter which had witnessed 12 investments (amounting to $902 million), the volume of Investments was up 33%. For the six months ending June 2016, there were 196 deals worth $635 million compared to 239 deals worth $959 million in the same period in 2015.
The predominant focus of investors continued to be on the residential segment in the main metros which accounted for 15 of the total 16 investments. Projects in South and West India accounted for six deals each, followed by North with four deals. East and Central region did not receive any investments.
The largest PE-RE investment reported during Q2’16 was the $187 million (Rs 1,250 crore) fund raise by M3M India from Indiabulls housing finance. This deal was followed by Piramal Fund’s $63 million (Rs 425 crore) investment in Lodha Group’s Central Mumbai residential project. The next largest deal was the $45 million (INR 300 crore) investment by KKR in two residential projects of Puranik Builders - Abitante and Aldea Espanola in Pune's Bawadhan and Baner areas.
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