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Exciting real estate investment by HDFC PMS

No Comments Sub Category:Other cities,Realty News Posted On: Nov 05, 2012

HDFC portfolio Management Services (PMS), a Unit of HDFC Mutual Fund is finding the possibility of exiting its real estate investment, before its next real estate fund, as per an investment banker said.

The source  said that the exits are of Rs 800 crore -Rs 1,000 crore and range between Rs 100 crore and Rs 250 crore per investment.

PMS has already applied for real estate fund under the alternative investment fund (AIF) guidelines with the Securities and Exchange Board of India (SEBI). But when clarified with the HDFC Mutual Fund spokesperson, he said that there is no plan of exiting investments worth Rs 1,000 crore at this stage.

The spokesman added that they have plans to launch a real estate fund under the AIF regulations. And now HDFC PMS exited the housing project of Mumbai-based Runwal Group by selling 50 per cent in the project for Rs 250 crore.

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