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Yatra Investing e21.6-Million in Realty projects


Yatra Investing e21.6-Million in Realty projects

Last updated: June 2 2007
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  • Yatra Investing e21.6-Million in Realty projects

    Dollar Investments, It's Euros nowIndian Real Estate: Dollar Investments, It’s Euros Now

    Making its first investment in the Indian real estate market, Yatra Capital Limited is the first Euronext quoted Indian real estate company that raised e100-million in December 2006, for the specific purpose of investing in Indian real estate. Committing e21.6-million in equity for a 49% stake, Yatra in a joint venture partnership with Kolte Patil Developers Limited, is developing three residential sites in Pune, Maharashtra.

    Nigel Broomfield, Chairman - Yatra Capital Limited confirms: “We are very pleased to announce our first investment in India with a leading, experienced and internationally accredited real estate partner. This opens our investment account in India and is in alignment with our strategy of partnering experienced developers to create shareholder value for Yatra.”

    With all three project localities in key corridors of growth, Yatra’s investment in Pune underlines its stated strategy of investing in fast growing Indian cities. Rajesh Patil, Chairman & Managing Director or Kolte Patil Developers Limited affirms, Yatra Capital Limited through its advisor Saffron Capital Advisors is a very well informed and networked partner. It not only creates value through equity investments, but also through extensive knowledge about quality real estate development.

    Kolte has over 25-projects to its credit, including the GigaSpace IT Park project in Viman Nagar, Pune, and it was Saffron Capital Advisors Limited that sourced, evaluated and gave advised Yatra on this joint venture, when in August 2006, Yatra through its subsidiary K2 entered into an Investment Advisory Agreement with Saffron Capital Advisors.

    Source: The Economic Times

    So the FDI keep on coming!!! Has RBI/govt come out with clear policy on FDI investments in real estate industry in India?
    Manoj Misra

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