IL&FS Investment Managers Ltd (IIML) intends to launch a new fund under Yatra Capital, an India-focused real estate investment firm, pending shareholder approval and market conditions.
Yatra Capital to invest ₹115 cr in Indian real estate in FY10, focusing on affordable residential projects in tier I and II cities.
Indian developers diversify into hospitality due to low real estate margins, high lending rates, and strict financing norms.
Yatra Capital Ltd invests $7 million for a 40% stake in a Kolkata hotel project, emphasizing growth in the hospitality sector and aiming for diversified returns.
Saffron Group, promoter of Yatra Capital, plans to become a leading real estate player with long-term investments in upcoming properties and rental income generating assets.
Parsvnath Developers sold a 30% stake in its Mumbai project for 1.86 billion rupees to foreign funds, enhancing investor interest in India's real estate market.