Taurus, Sage Capital to raise Rs 5 bn real estate fund

21 Nov 2022 CW Team

Boston-headquartered Taurus Investment Holdings and its partner Sage Capital plan to raise a Rs 5 billion fund to invest in the real estate sector in India. The firms plan to focus on Tier 1 and high-growth Tier 2 cities in South and West India.

The companies plan to develop a portfolio of projects worth over $1 billion over the next five years.

“We are in the process of applying for SEBI (Securities and Exchange Board of India) approval for our AIF and have also started meeting investors in parallel,” said Ajay Prasad, managing director of Taurus Investment Holdings India. “The proposed real estate-focused fund aims to raise a total of $200-$250 million from foreign and domestic investors.”

Taurus Investment Holdings India had its fundraising plan on hold until now due to the Covid-19 pandemic and the resultant uncertainties in the market.

“The fund will invest in mixed-use, office and mid-scale residential projects in the Indian real estate market,” said Prasad.

The firm plans to focus on cities like Trivandrum, Visakhapatnam, Coimbatore, Bhubaneshwar and Trichy, among others.

Taurus is currently developing a 5.5 million square foot mixed-use project in downtown Trivandrum in partnership with the Embassy Group and Asset Homes, involving a total investment of Rs 15 billion.

To date, Taurus has purchased, developed and sold more than 70 million sq ft of office, industrial, retail, office and residential assets globally with a total value of over $10 billion.