Emaar MGF raises Rs 600 crore from SSG Capital Management.

Q: Real estate developer Emaar MGF has raised Rs 600 crore from private equity fund SSG Capital Management for its projects in the National Capital Region.

Kajal, Delhi-NCR

15th January 2015

Real estate News in Delhi

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private equity

ssg capital management

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emaar mgf

industrial park in gurgaon

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Replies (6)

Yor are right. And now a days many developers are out in the market to raise this kind of money. Today, pricing of capital is not such an issue. The more important aspect is the flexibility of the capital they are raising in terms of payment structures. These funds were used for their projects and corporate requirements.

Neha Srivastava, Delhi-NCR

16th January 2015

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Whereas in the NCR, unsold inventory rose to 318000 apartments, which would take 83 months to be sold at the current pace of sales. Cash flows have been helpless for most developers today. The big challenge is to raise money on flexible terms, which would help a developer manage his stress for the next 12-14 months.

Lohit Raj, Delhi-NCR

15th January 2015

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Home sales in the last few quarters have been a worry for developers across the country. Home sales across the top 6 cities of the country saw a q-o-q drop of 25% in the September quarter, the lowest since 2009, while unsold inventory rose to a high of 815000 apartments, according to property research firm Liases Foras.

Shivshankar, Delhi-NCR

15th January 2015

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The Singapore-based fund had recently put Rs 450 crore in a Noida project of builder Lotus Greens along with Clearwater Capital. Lotus Greens too had issued non-convertible debentures to the funds.

Lohit Raj, Delhi-NCR

15th January 2015

Comment

Around Rs 300 crore will be used to service the existing debt while Rs 125 crore will go towards development of the company's other projects. SSG Capital Management can get back these debentures by July 31, 2021.

Shivshankar, Delhi-NCR

15th January 2015

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Hi Kajal,
And the funds have been raised against the security of 2 residential projects and 1 industrial park in Gurgaon, near Delhi, that the builder is developing. The builder will use Rs 75 crore to construct two of its projects in Gurgaon, which are at an early stage of development.

Lohit Raj, Delhi-NCR

15th January 2015

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