21/12/2017
PUNE (HYDERABAD):
Altico
Capital, the non-banking finance company, promoted by Clearwater Capital, Abu
Dhabi Investment Council and Varde Partners recently deployed Rs 1,250 crore
across five deals in Hyderabad and Pune.
Altico invested Rs 500 crore across two deals with Hyderabad-based
Phoenix group for construction and development of IT SEZ projects, Rs 375 crore
with Marvel group in Pune for a bouquet of projects, Rs 240 cr with Pharande
group for development of township project and Rs 130 crore with Mumbai-based
Jatia group for their residential project.
Phoenix group, based in Hyderabad, is a developer of
commercial projects, having successfully delivered more than 7 mn sq. ft. and
currently executing projects around 19 million sq. ft. Altico-funded project is
located in the prime commercial area of Hitec City having presence of global IT
and e-commerce giants like Google, Facebook, Amazon, etc.
Additionally, Altico funded the construction of another IT-SEZ
in Hafeezpet which is pre-leased to a global professional services firm. The
Phoenix group has continuously demonstrated expertise in leasing commercial
spaces to companies like Amazon, IBM, Cognizant, HCL Technologies, Capgemini,
etc. as well as selling pre-leased spaces to institutional investors.
"Phoenix is an existing partner of Altico Capital. With
this transaction, the cumulative amount sanctioned by Altico to the Phoenix
group has moved to Rs 725 crore," mentioned Sanjay Grewal, CEO, Altico
Capital.
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