Real estate developer - Rustomjee Group has raised R310Cr from Piramal Healthcare and Future Capital for project financing and buying out its investor in three of its projects.

According to BS, Piramal Healthcare have subscribed to secured NCDs worth R110Cr, issued by the operating entities of the group, while Future Capital has subscribed to NCDs worth R200Cr.

Last Nov, Trinity Capital Plc exited Enigma Constructions Pvt. Ltd - developer of Rustomjee Evershine Global city in Virar by selling it's stake for Rs48Cr.

Last July, Trinity Capital Plc exited Kapstone Constructions Pvt Ltd, a subsidiary firm of Mumbai-based developer Keystone Realtors Pvt Ltd (also known as Rustomjee Group), by selling its 16% stake for around R90Cr (12.6 million pounds).

Kapstone Constructions project, a mix of residential, commercial and IT space as well as retail malls, educational, recreational and healthcare facilities, is expected to be completed by 2015-16.

Founded in 1996, Mumbai-based Keystone Realtors develops residential complexes, homes, and commercial facilities.

Earlier in January, Kotak Realty Fund exited 3C Company's IT park project - Green Boulevard in Noida by selling it's 35% stake to the promoters; while Deutsche Bank has exited Lodha Developer by selling its stake to the company for R2542Cr.

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