NBFC closed three real estate investment projects in India
India Infoline Finance Ltd, the non-banking finance company (NBFC) of financial services firm IIFL Holdings Ltd, has closed three back-to-back real estate investments in projects in Mumbai, said people familiar with the development.
India Infoline Finance has put in around Rs 260 crore across these three deals primarily in the form of loans to developers, who will use the money for project development, to buy construction rights for projects and for acquiring land.
These are some of the larger transactions that have been recently closed from the NBFC portfolio apart from a few other smaller deals said a person familiar with the development, but didn’t want to be named. India Infoline Finance generally lends to real estate firms, which have good locations, generate good cash flows and have approvals in place. With a number of debt funds in the markets, NBFCs have become more aggressive and competitive said the person mentioned above.
This information was made available stating about the developments of the recent investments of India Infoline Finance Ltd. However whether the information is valid or not is not known.
Source: Mint
IIFL Holdings Ltd, India Infoline Finance Ltd, Investment, NBFC, Non-banking finance company, projects in India, Realty News
