Yatra capital announces investment in real estate

Mumbai, May 15 (UNI) Yatra Capital, the first Euronext quoted real estate company, has acquired 49 per cent equity stake for Euro 21.6 million in a joint venture, which will initially develop three residential sites in Pune.

Kolte Patil Developers Ltd, Pune is the joint venture partner of Yatra Capital, the company which was incorporated in 1991 and has focused on Pune and Bangalore, a release by Yatra Capital said today.

The joint venture will initially develop three separate residential projects spread over 78 acres collectively and a total development of approximately 2.9 million square feet. All three localities are within the key corridors of growth in Pune and are located next to the commercial and technology related developments.

The construction activity of the joint venture is expected to begin later this year, the release added.

UNI