Mumbai: Xander Investment Management Pte. Ltd, the private equity arm of the global investment firm, The Xander Group Inc has infused Rs370 crore (US $61.5 million) in Kapstone Constructions Pvt Ltd (KCPL). KCPL is one of Rustomjee’s group companies and is presently developing a township project Rustomjee Urbania.
“This investment is representative of our continuing investment interest in the Indian real estate market for well-positioned projects with quality partners,” states Rohan Sikri, Partner, Xander Investment Management Pte. Ltd.
This is the fifth private equity investment in Rustomjee and the capital received from Xander will be used towards reducing debt and growth of Rustomjee.
“We are pleased to join hands with Xander. Their extensive industry knowledge and global experience will add significant value to our company,” states Boman Irani, Chairman, Rustomjee.
“Rustomjee is well positioned to capitalize on their development expertise across townships, premium residential projects and redevelopment schemes in Greater Mumbai and we are pleased to partner with them,” expresses Sikri.
EPC World News Bureau
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