Piramal Enterprises (PEL), one of India’s largest diversified companies has formed a strategic alliance with CPPIB Credit Investments, a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB) for providing rupee debt financing to residential projects across India’s major urban centres. CPPIB and PEL have each initially committed $250 million for this purpose. Indiareit Fund Advisors (Indiareit), the real estate fund management arm of PEL, has been appointed as advisor.
The investment focus shall include the provision of project level debt financing to top tier local developers with a strong track record in delivering high-quality residential projects. The focus will be on residential developments in Mumbai, Delhi NCR, Bangalore, Pune and Chennai - markets with good civic infrastructure, strong employment and population growth forecasts, which provide favourable absorption dynamics for middle income housing.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and information management sectors.
The investment focus shall include the provision of project level debt financing to top tier local developers with a strong track record in delivering high-quality residential projects. The focus will be on residential developments in Mumbai, Delhi NCR, Bangalore, Pune and Chennai - markets with good civic infrastructure, strong employment and population growth forecasts, which provide favourable absorption dynamics for middle income housing.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and information management sectors.
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