Mumbai, Sep 28 (UNI) In the single largest Foreign Direct Investment (FDI) in real estate sector in India, Deutsche bank, Singapore has put in USD 425 million FDI in Mumbai-based real estate company Lodha group.
The investment will fund Lodha group's special purpose vehicle (SPV) for the development of three of its Mumbai-based FDI compliant projects, said the company. A proportional stake of the projects will go to the investors.
Mumbai-based investment bank Trustcap has been the Sole Advisor to the transaction.
Lodha Group, which has operations in a number of residential and commercial projects, IT parks, retail spaces and weekend retreats, has currently over 25 million square feet land under construction across over 27 projects in and around Mumbai.
The group has a land bank of over 4000 acres with a current valuation at USD 8-10 billion.