PE funds bullish about Indian property mkt
There may be a lull in the Indian property market, but certain private equity funds continue to be bullish about it. The slowdown in the Indian property market has not deterred private equity investment funds.
Gurgaon-based Fire Capital is all set to invest USD 500 million in various realty projects across the country, over the next four years. Fire Capital has currently committed capital in seven cities including Jaipur, Nagpur, Indore and Dehra Dun. The company says it will continue to tap emerging markets as there is more room for development. Though residential projects are top on its priority list, Fire Capital is also looking to diversify into healthcare, hospitality and retail segments.
On residential alone, the shortfall in demand and supply in terms of the carryover stock that needs to be put on the market to meet this unmet demand, could be anywhere between 20 to 30 million homes. So, in that context, the road ahead is an attractive one, said Om Chaudhry, CEO, Fire Capital fund.
More : moneycontrol.com