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Joint venture to get 70 crore fund infusion

Comments(4) Sub Category:Chennai,Commercial Real estate,Hyderabad,Realty News Posted On: Jun 29, 2012

The six-year-old real estate joint venture of Hyderabad-based Ramky Group, a well-known name in the field of waste management and infrastructure development, is planning to bring an additional Rs 70 crore into the ventures soon.

The Ramky Group and Wavoo Realty, the two equal partners in the joint entity RWD (Ramky Wavoo Developers Pvt. Ltd.), is set to see fresh capital infusion even as it explores opportunities in newer geographies.

W S Habib, Managing Director of RWD said the two partners would contribute equally to the capital requirements. He said in couple of months the fund infusion could happen.

The joint venture is having plans to take a new project near the city soon thus it needed more capital, he added.

To read more real estate news:

Ramky Group to invest Rs 1,700 crore in Indian realty market!

Source: The Hindu

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