Piramal Fund Management plans Rs.425 cr investment

Piramal Fund Management (PFM) has invested Rs 425 crore in a central Mumbai project. The investment is towards construction of premium residences being developed by Lodha Group in a project with more than 5 lakh sq ft of saleable area. The deal has been structured as a fixed-return, debt investment with periodic coupon payments and has an appropriate security mechanism in place, including hard asset cover as well as escrow of receivables. Contact: Piramal Fund Management. Tel: 022-6151 3456. Website: www.piramal.com