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- JP Morgan invest in Indian real estate
Global financial services firm JP Morgan has invested Rs 2.74 billion (US$61.4 million) via its real estate investment arm in a realty project being developed by city-based Lodha Builders.
The project, Lodha Bellissimo, is a premium residential development project at Apollo Mills.
Lodha Builders bought eight acres of mill land from National Textile Corporation (NTC) for Rs 1.8 billion in June 2005.
Maintaining that India offers some of the best risk- adjusted returns in Asia, JP Morgan's Vice President, Tyler E Goodwin said this firm was looking forward to a long partnership with Lodha Builders.
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