300 realty developers approach the Rs 125 bn AIF for financial support for projects

14 Feb 2020 Editorial Team

Alternative asset manager SBICAP Ventures, a wholly owned subsidiary of SBI Capital Markets, has been entrusted by the government to manage the fund to help kick-start stalled projects across the country.

Reports indicate that more than 300 real estate developers across the country have approached the fund for financial support for their projects. From the 300, 200 builders are known to have submitted preliminary information; and fund managers have sought further information from 100 of these 200. As reported, about 60 projects have not met the necessary criteria for getting financial support; however, about 20 per cent applications are under active consideration.

Two projects are known to have already got its final approval for disbursement by the fund. These include one project in Mumbai and one in Bengaluru. These projects, comprising 1,800 houses stuck in various stages of completion, are expected to provide homes to about 9,000 people. Besides, another eight projects are known to have received preliminary approvals, with another 40 under active consideration.

The fund achieved its first closure worth Rs 105.30 billion on December 6, 2019, within a month of the approval by the government in November. It is reported that adequate capital is available for active deployment over the one to two years, considering the first closing at a significantly large amount. Furthermore, additional capital will reportedly be raised from domestic sources as well as sovereign and multilateral international institutions.

SBICAP Ventures will reportedly be committing the first over Rs 105 billion in the next one to one-and-a-half years. It may also concurrently start raising additional funds. However, as reported, SBICAP Ventures’ focus will be first on deploying the funds and pushing for completion of projects.

Photo: For representational purpose

The government’s Rs 125 billion Alternate Investment Fund (AIF), which offers last-mile funding to stuck housing projects, has disbursed funds to two housing projects. And, it reportedly expects to fully deploy its money in two years. As reported, the investments are expected to kick-start the much-awaited investment cycle in the country’s residential real estate and trigger private investor interest in housing projects. About 4.58 lakh housing units are estimated to be facing delayed deliveries across 1,509 stalled projects. Alternative asset manager SBICAP Ventures, a wholly owned subsidiary of SBI Capital Markets, has been entrusted by the government to manage the fund to help kick-start stalled projects across the country.Reports indicate that more than 300 real estate developers across the country have approached the fund for financial support for their projects. From the 300, 200 builders are known to have submitted preliminary information; and fund managers have sought further information from 100 of these 200. As reported, about 60 projects have not met the necessary criteria for getting financial support; however, about 20 per cent applications are under active consideration.Two projects are known to have already got its final approval for disbursement by the fund. These include one project in Mumbai and one in Bengaluru. These projects, comprising 1,800 houses stuck in various stages of completion, are expected to provide homes to about 9,000 people. Besides, another eight projects are known to have received preliminary approvals, with another 40 under active consideration.The fund achieved its first closure worth Rs 105.30 billion on December 6, 2019, within a month of the approval by the government in November. It is reported that adequate capital is available for active deployment over the one to two years, considering the first closing at a significantly large amount. Furthermore, additional capital will reportedly be raised from domestic sources as well as sovereign and multilateral international institutions.SBICAP Ventures will reportedly be committing the first over Rs 105 billion in the next one to one-and-a-half years. It may also concurrently start raising additional funds. However, as reported, SBICAP Ventures’ focus will be first on deploying the funds and pushing for completion of projects.Photo: For representational purpose

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..