Red Fort Capital Eyes Expansion with Multiple Projects
Red Fort Capital, a prominent private equity fund specializing in real estate development, is in advanced stages of negotiations with six esteemed developers. These discussions pertain to six high-profile projects collectively valued at approximately Rs 4,000 crore, strategically located in key metros across India.
Strategic Partnership with Godrej Properties
Notably, Red Fort Capital has already collaborated with Godrej Properties to co-develop an ambitious IT park in Kolkata, known as Godrej Genesis. In this project, Red Fort Capital has acquired a significant 49% stake. The Godrej Genesis project is anticipated to generate substantial sales, exceeding Rs 750 crore.
Upcoming Projects in Key Metros
Director's Insight
“We are in the process of closing a number of transactions in the NCR, Mumbai, and Bangalore. We are currently in talks with six different developers in these cities,”
Red Fort Capital Director, Kuldip Chawlla.
Project Details
- Developers Involved: The negotiations involve three prominent national developers and three local players.
- Project Evaluation: The company is currently evaluating one residential and one commercial project in each city.
- Stake Acquisition: Red Fort Capital plans to acquire stakes ranging between 30% and 80% in these projects.
- Total Project Cost: The combined project cost for all six properties is expected to surpass Rs 4,000 crore.
- Development Timeline: These projects are slated for development over the next 2-4 years.
Spotlight on Godrej Genesis, Kolkata
- Developable Area: Godrej Genesis boasts an expansive developable area of over one million square feet.
- Market Interest: The project has garnered significant interest from both domestic and international IT firms for setting up offices within the complex.
“This is our first project in Kolkata. We have seen considerable interest from IT firms looking to establish a presence here,”
Kuldip Chawlla, elaborating on the project’s potential.