Motilal Oswal has invested a sum of Rs 260 crore in Urbanrise – Alliance Group for the company’s upcoming three projects in Bengaluru and Hyderabad, the company said in a media release.
Manoj Namburu, chairman and managing director of Urbanrise and Alliance Group, said, “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 Rs. 140 crore. funded by ADIA & Kotak Realty, a good 24 months ahead of that loan tenure.”
The funds were raised towards three upcoming projects – 30 acres villa project on Kanakapura Road, Bengaluru, the seven acres high-rise apartment project in Whitefield, Bengaluru and the 17.5 acres of high-rise apartment project in Nizampet, Hyderabad.
The total saleable area in these three projects would extent to 6.2 million sq.ft. and would generate a revenue of Rs 4,600 crore.