Piramal Funds invests Rs.2,320 cr in Lodha Projects

Piramal Fund Management (PFM) has invested Rs 2,320 crore across a bouquet of several projects of Lodha Group in Mumbai. This is the single largest debt transaction to take place in the real estate funding space and is the second investment by PFM in the Lodha Group. PFM will enable Lodha to complete and deliver marquee projects in south and central Mumbai. The deal has been structured as a fixed return debt investment with periodic coupon payments and has an appropriate security mechanism in place. Contact: Piramal Fund Management. Tel: 022-6151 3434. Website: www.piramal.com