Trikona Capital plans to raise Rs,1500 crore Indian Realty Fund

November 15, 2007	(3 votes, average: 3 out of 5)  Loading ...
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Ashish Kalra, co-founder and managing director of New York-based real estate investment company Trikona Capital, revealed plans to raise Rs1,500 crore domestic fund. He also said that the fund would be “by-invitation-only” with “a minimum ticket size of Rs25 crore.”

According to Trikona Capital’s president Mahesh Gandhi, the fund would be deployed in the company’s second series of investments in India. The company also plans to launch a $1 billion (Rs3, 940 crore) infrastructure fund.

Trikona plans to invest around $10 billion over the next 10 years in Indian real estate. Till date Trikona’s has a 16% stake in two projects of Kapstone Construction, a Mumbai-based company; a 5.72% stake in DB Realty, another Mumbai-based firm; an undisclosed stake in a commercial property being developed at Bandra Kurla Complex in Mumbai with Dynamix Balwas; and an undisclosed stake in Luxor Cyber City, promoted by the writing instruments major Luxor and Delhi-based developer, Uppal group.

A report issued by consulting firm Ernst & Young on the real estate sector said that around two dozen funds are lining up funds worth over $3 billion targeting real estate in India.

Blackstone, Morgan Stanley, GE Commercial, Citigroup Property, Berggruen Holding and Bluestone Quantum Management Pvt. Ltd are other international funds considering investments in real estate in India.

News Published Under:   Real Estate India |

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