HDFC Sponsored Funds Invests Rs 500 crores in World One

August 17, 2010 By Lodha Web

Announces India’s Largest Private Equity Investment in the Real Estate Sector since 2008

Mumbai, August 17, 2010 – In one of the biggest investments in the Real Estate sector this year, Lodha Developers today announced that HDFC Sponsored Funds has made an investment of Rs. 500 crores in World One, Lodha’s landmark project slated to be the tallest residential tower in the world.

Being the largest investment by HDFC Venture Capital, this deal also marks it as the largest financial transaction in the Indian real estate sector since the 2008.

HDFC Sponsored Funds will acquire 10% equity stake in World One, a project with the total expected investment of Rs. 2,000 crores. Trustcap Global, a leading Mumbai based investment banking firm acted as the Sole Advisor to this transaction.

Commenting on the deal, Mr. Samujjwal Ghosh, Senior General Manager, Lodha Developers said, “This transaction is a testimony to the fact that the appetite of investors and buyers for quality offering like World One is very high and reinforces that India is a high quality demand market. HDFC understands the market potential and their investment reflects the success and the potential of World One.”

“We have been on an aggressive growth path and this partnership combines HDFC’s vision with our expertise. This significant partnership will further strengthen our relationship with HDFC who are India’s financial institution in Real Estate”, adds Mr. Ghosh

Lodha Group has previously attracted investments for its various projects from leading global financial institutions like JP Morgan, Deutsche Bank and ICICI Ventures. JP Morgan had earlier invested Rs. 274 crore in Lodha Bellissimo.