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.

After completing deployment of its first fund, it is currently raising Pragnya Fund II.

Earlier this year, it invested mixed-use project in Whitefield, a Bangalore suburb, for which it has formed a joint venture with developer Habitat Ventures Ltd.

In December 2010, It invested in a Chennai based residential project, whcih being developed by a JV between VGN Developers Pvt Ltd and Pragnya Fund.

In 2007, Pragnya Fund had taken a 24.5% stake in L&T South City township project (L&T Eden Park) on Chennai's Old Mahabalipuram Road/IT corridor.

In addition to their Chennai projects, the Fund has also invested in an IT SEZ project at Kochi, a mixed-use project in Colombo, two residential projects at Asansol and Barrackpore in West Bengal and another project in Bangalore. The total built up space in these projects is around 12 million square feet.

Previous Article

JP Morgan Invests $40Mn In A Nitesh Estate SPV

Next Article

Vedanta Issues Bonds To Retire Debt

All Comments

Readers' Recommendations

Post a Comment

Display Name		E-mail
Comment
Comments are moderated and generally will be posted if they are on-topic and not abusive.