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Tata Housing partners with Macquarie Group to form Rs 2,000 crore fund for luxury housing

Tata Housing Has Partnered With With Private Equity Firm Macquarie Group To Form A Rs 2,000 Crore Fund To Be Used For The Company’s Luxury Housing Projects.

News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 25 Dec 2016, 03:40:20 PM
Tata Housing - File Photo

New Delhi:

Realty major Tata Housing has partnered with with private equity firm Macquarie Group to form a Rs 2,000 crore fund to be used for the company’s luxury housing projects.

Australia-based Macquarie Group will put in Rs 1,400 crore while the Tata group firm will contribute Rs 600 crore.

“Tata Housing and Macquarie have joined hands to invest Rs 2,000 crore in the Indian real estate market,” a source said. Macquarie will have 70 per cent stake in the fund. A Tata Housing spokesperson declined to comment.

According to sources, the investments will be in the form of equity infusion into the fund to expand Tata Housing’s presence across premium and luxury projects in the top 8 cities in the country over the next 3-5 years.

The projects would be targeted at marquee locations in Mumbai, National Capital Region, Bengaluru, Chennai, Kolkata and Pune. This is the second such fund for Tata Housing. Its subsidiary Tata Value Homes has formed a fund of about USD 90 million as it targets to develop about 16,800 homes over the next 10 years.

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First Published : 25 Dec 2016, 03:34:00 PM