Pragnya to invest in Bangalore

Q: How much they are planning to invest in Bangalore and what type of projects they are looking for invest in?

Manu Kumar, Bangalore

5th March 2013

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So the smaller developers are seeking funds from tap non-banking financial companies for money. Those small and mid sized developers are in great need for capital for various reasons. Pragnya invests in residential projects. Last year, it invested Rs.118 crore in a residential project in Chennai that is being developed by VGN Developers Pvt. Ltd. The company is planning to use the remaining capital of around $ 25 million from its second fund in 3-4 projects, mainly in residential project in southern part of India. Pragnya is going to sell most of its investments this year.

Rakesh, Bangalore

7th March 2013

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What about small developers who want smaller amount of funding for their project?

Manu Kumar, Bangalore

7th March 2013

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Pragnya invested in a residential development in Colombo but opted to put its money in an office project this time. As the supply of the lease rental generating office properties is limited there, so it is better to invest in such properties. Usually real estate- centric private equity funds invest bigger amounts like Rs 80 to 100 crore in projects.

Abhishek,

7th March 2013

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Pragnya has two real estate-focused funds. The first fund of $40 million was distributed across seven transactions and money from the $50-million second fund is being invested. Earlier, Pragnya invested $5 million in a Habitat Project in Bangalore’s Whitefield area and Habitat Ventures is the second and largest investment in Bangalore by the same which was set up in 2004. The Habitat project is at Bannerghatta Road and the investment amount may go up to $7 million if at all additional land is acquired for it.

Bhargav Dev, Bangalore

6th March 2013

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Pragnya Advisors Pvt. Ltd has invested around Rs 27.5 crore in Bangalore in a Habitat Ventures project and another $5 million in an office space development in Colombo, Srilanka. They are planning to invest only on residential projects.

Lokesh Patwa,

6th March 2013

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