Pragnya Advisors Invests $5Mn In Township Project In AP
by Charmi Gutka
Pragnya Advisors Pvt Ltd has invested $5Mn in a 50 acre integrated township project in Rajahmundry, Andhra Pradesh.
It has also invested an undisclosed sum in the residential portion of a premium mixed-use project in Columbo.
Pragnya Fund, a Mauritius based private equity fund with target investments in Indian real estate, has been sponsored by Subba Rao Dukkipati and Gopal Menon. The fund has been in the real estate investment business in India and Sri Lanka since 2005-06.
JP Morgan Global Fund has invested $40Mn for a 45% stake in a Nitesh Estate SPV. This SPV will be executing three projects totalling 4 mn sqft in Bangalore and Chennai. The deal will have a five year horizon.