Prestige, HDFC to create Rs 2,500 cr fund for housing projects

作者:Wendy    發表日期:2018-05-10 15:17:07

Realty firm Prestige Estates Projects reported a 33 per cent increase in consolidated net profit at Rs 89.4 crore for the December quarter and announced a tie-up with an HDFC arm for a Rs 2,500 crore fund to develop affordable and mid-income housing.

Its net profit stood at Rs 67 crore in the year-ago period, the Bengaluru-based firm said in a regulatory filing.

The company's total income increased to Rs 1,290.2 crore in the third quarter of this fiscal from Rs 1,253.5 crore in the corresponding period of previous year.

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"The board has approved entering into platform deal for an arrangement between the company and HDFC Capital Advisors for taking up real estate developments across various geographies in the affordable/mid income housing segments through a mix of equity and debt funding," the filing said.

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The total corpus of the platform is about Rs 2,500 crore, it added.

In December 2017, HDFC's subsidiary HDFC Capital Advisors had announced that it has raised USD 1 billion to create a real estate fund that would invest in affordable and mid- income housing projects in the top 15 cities of the country.


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轉載請註明:Wendy 2018-05-10 15:17:07 於 綜合資訊站 發表

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