Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
02 October, 2014 14:55 IST

Source: rss (02-Oct-14)
Comments  |  Post Comment

Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, announces exits worth Rs 4.4 billion from three of its earlier funds and one from a third party mandate.

These exits have been executed under the leadership of Khushru Jijina, who was re-inducted to oversee Indiareit as Managing Partner three months ago.  This is a strong validation of Indiareits commitment to work immediately on  prioritizing investor returns across all of its advised / managed funds and adds to the Rs 9.05 billion that the fund house has already returned from previous exits in earlier vintage funds and third party mandates.

Khushru Jijina, managing partner, Indiareit said, ''The Piramal Group strongly believes that we are custodians of our investors and in our fiduciary capacity, we felt it appropriate that we give due attention and importance to a renewed focus on exits from our 2006-7 vintage fund vehicles. We have initiated discussions with our development counterparts in order to prioritize such exits with a view towards final realizations keeping in mind the various fund tenures.''

The first is a phased stake sale of an SEZ within a successful township project located at Hinjewadi, Pune, being developed by Paranjape Schemes.

The second is an investment in Mumbai with the Ariisto Group in a residential project at Santacruz as well as a mixed use project at Goregaon. Ariisto Sapphire, a 83 unit premium luxury development has been completed and handed over and well received by the micro market.

Piramal Enterprises Limited  

RBI hikes FII limit for Apollo Tyres to 45% - 01-Oct-2014 18:32
Escorts Agri Machinery sales up 9.4% in September'14 - 01-Oct-2014 17:24
Tata Motors sales fall 8% in September - 01-Oct-2014 17:20
TVS Motor posts 27% sales growth in September' 2014 - 01-Oct-2014 17:13
Indiabulls Power names Jayant Kawale as managing director - 01-Oct-2014 17:10
BHEL pays 76% final dividend for fiscal 2013-14 - 01-Oct-2014 16:57
SSWL sales climb 12% in September'14 - 01-Oct-2014 15:42
Mahindra reports 8% growth in September tractor sales - 01-Oct-2014 15:33
M&M auto sales up 4% in September - 01-Oct-2014 15:24
NIIT to partner Microsoft for 'Women in Tech' initiative - 01-Oct-2014 15:14
Tata Global JV firm opens Starbucks store in Hyderabad - 01-Oct-2014 15:12
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Security Code type   pryjtf into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer