New Delhi, Apr 7 (PTI) Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF – II) on Thursday said it has invested Rs 75 crore in Vakratunda Buildcon for construction of a project in Mumbai.
Vakratunda Buildcon Pvt Ltd is a joint venture between Shapoorji Pallonji Group and Vakratunda Group.
The funds will be utilised for project ‘BKC 28’, consisting of around 150 apartments, located in Bandra East, Mumbai.
On behalf of WSBREDF II, Vinit Prabhugaonkar said, “This development caters to the housing demand from executives working at BKC and offers a true value proposition at a very attractive pricing. We continue to provide capital solutions to reputed developers focused on delivery and quality.” Shapoorji Pallonji Group is one of the leading conglomerates in the country and its real estate arm has a development pipeline of over 80 million square feet and features in one of the top five real estate developers in India by sales.
Established in 1973, Vakratunda Group has been active in residential and commercial real estate developments in Mumbai, Thane, Badlapur and Mumbai Metropolitan Region, in partnership with developers like Godrej Properties.
Launched in June 2021, WSBREDF-II has a target corpus of Rs 500 crore and an additional green shoe option of up to Rs 250 crores. It has invested about 45 per cent of the fund across five investments to date. PTI MJH SHW SHW
