Narayana Murthy ventures into realty sector; Azim Premji to follow
After having made investments in average capital value appreciations in the past, Infosys co-founder NR Narayana Murthy’s family office Catamaran Ventures – which manages a portion of Murthy’s wealth – has now made investments is the realty sector.
According to the details shared by unidentified sources familiar with the development, Catamaran Ventures has forayed into the realty arena with the purchase of high-end luxury apartments in Bangalore and Mumbai.
As per the sources, Catamaran Ventures – which manages funds totalling Rs 600 crore – had invested at the pre-launch phase of the Bangalore and Mumbai projects; thereby providing scope for steep appreciation in value on the completion of the projects are completed.
However, it has not been specified by the sources as to whether Catamaran Ventures also has plans underway to make investments in commercial real estate.
Meanwhile, another unidentified source has disclosed that, following Murthy’s investments in real estate, Wipro chairman Azim Premji’s family office Premji Invest is also reportedly looking for purchase of realty assets in metropolitan cities.
Some sources in the realty industry have revealed that Premji had, in his personal capacity, invested in a few properties in Mumbai a couple of years back. Those properties were subsequently rented out.
Source – The Times of India
