The Venture Intelligence Blog

From the Press Release Pragnya Fund has formed a joint venture with Habitat Ventures Ltd for developing a contemporary ‘Work-Live-Relax’ residential cum commercial development with all modern amenities at Whitefield, Bangalore. The project is ideally located close to International Tech Park (“ITPB”), on the Whitefield Road (ITPL Road). The project is based on a distinctive concept called “Villaments”, which combine the features of a villa and a high end apartment. This product is targeted at higher income families working out of Whitefield & Outer Ring Road, key technology hubs, who would like to have a villa ambience at the price of a higher end apartment. The project has obtained most of the permissions and the launch is scheduled for early 2011. This will be the first investment by Pragnya Fund in Bangalore. Pragnya Fund has been in the real estate investment business in India and Sri Lanka since 2005-06. The present portfolio of the fund includes an 87 acre integrated township...

Edited extracts from Press Release: Real estate-focused PE investor Pragnya Fund has formed a JV with VGN Developers for a residential development project in Chennai. The project, covering an area of 6 lakh square feet at Paruthipattu on the Poonamalli- Avadi High Road, beside State Highway 55, will cater to the affordable housing segment of the market. The launch is scheduled for mid-2011. From the Venture Intelligence PE-RE Deal database : In 2007, Pragnya Fund had taken a 24.5% stake in L&T South City township project (L&T Eden Park) on Chennai's Old Mahabalipuram Road/IT corridor. Pragnya Fund has been in the real estate investment business in India and Sri Lanka since 2005-06. In addition to their Chennai projects, the Fund has also invested in an IT SEZ project at Kochi, a mixed-use project in Colombo, two residential projects at Asansol and Barrackpore in West Bengal and another project in Bangalore. The total built up space in these projects is around 12 million...