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~The funds raised shall be used in direction of three upcoming residential initiatives in Bangalore and Hyderabad which might generate a income of ₹ 4,600 cr ~
BANGALORE, India, Oct. 28, 2022 /PRNewswire/ — Motilal Oswal considered one of India’s largest monetary establishments has funded a sum of ₹ 260 Cr. in Urbanrise – Alliance Group, South India’s largest Real Estate developer for the corporate’s upcoming three main initiatives in Bangalore and Hyderabad.
The funds have been raised in direction of three upcoming initiatives – 30 acres villa challenge on Kanakapura Road, Bangalore, the 7 acres excessive-rise condominium challenge in Whitefield, Bangalore and the 17.5 acres of excessive-rise condominium challenge in Nizampet, Hyderabad. The whole saleable space in these three initiatives would extent to 6.2 million sq.ft. and would generate a income of ₹ 4,600 cr.
The indisputable fact that considered one of India’s largest monetary establishments like Motilal Oswal, funding the initiatives of Urbanrise/Alliance, is testimony to the monetary self-discipline and stability that the group has at all times displayed.
Commenting on the funding by Motilal Oswal, Mr. Manoj Namburu, Chairman and Managing Director of Urbanrise and Alliance Group, stated, “We are pleased to announce that Motilal Oswal has funded three of our projects in one tranche, thereby marking a new beginning in our relationship. This has been possible due to our track record of promptly repaying every single of our loans taken over the last 18 years and even prepaying loans ahead of the loan tenure. Financial Discipline has always been the DNA of our company, through which we have managed to mark many benchmarks in the industry. Case in point during the middle of COVID lockdown we have prepaid a loan of ₹ 140 Cr. funded by ADIA & Kotak Realty, a good 24 months ahead of that loan tenure”.
“The increasing trust that homebuyers place on our brand amongst the cities of Bangalore, Chennai and Hyderabad has helped the organization to arrive at a pole position in South India,” added Mr. Namburu.
“We have partnered with Alliance Group – a leading developer based in South India having operations in Chennai, Hyderabad and Bangalore – for a total commitment of ₹ 260 Crore. We continue to remain bullish on the mid-income housing segment in India. We hope that this investment forms a foundation of a long-standing partnership with Alliance Group,” stated Sharad Mittal – Executive Director and CEO | Real Estate Funds, Motilal Oswal Alternates.
About Alliance Group and Urbanrise
Urbanrise/Alliance Group, South India’s Largest Real Estate Developer has delivered over 7,500+ houses. The group has 54 million Sq.Ft. of initiatives beneath growth at numerous levels and has an actual property portfolio of ₹ 33,000 Crores. The Organization is backed and funded by the world’s topmost monetary establishments.
