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« Decision on FDI in Multi Brand Retail Next Week | Home | DLF Moves Delhi HC against SEBI Order »

Piramal Group May Lend Around $193 Million to Real Estate Projects this Fiscal

India’s Piramal Group plans to lend 7.5 billion to 10 billion rupees ($145 million to $193 million) to real estate projects in this fiscal year to March through its newly set up non-banking financial company, its chairman said on Monday. The diversified group is also looking to raise its research and development spend by Piramal Healthcare to 2 billion rupees in the next financial year from 1.5 billion rupees this year, Ajay Piramal told the Reuters India Investment Summit.

Piramal, who made global news last year for selling his India drugs business to US-based Abbott Laboratories for $3.72 billion, said the group also planned to acquire overseas biotechnology firms to boost research capability.

News Published Under:   Real Estate Developers, Real Estate India | No Comments »

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