realty fund raised by IDFC Alternatives
We downgrade IDFC to ‘neutral’ from ‘buy’ with a fair value of R143 a share. We are not pricing in a blue-sky scenario as of now. IDFC is trading at 1.3x FY16e adjusted book value and we expect it to generate 13 percent return over the next 10 years in the base case (target multiple [...] Continue Reading »
IDFC Alternatives raised its first fund of Rs. 750 crore focused on residential sector in India. IDFC Alternatives is a wholly owned subsidiary of IDFC Ltd. The fund is called IDFC Real Estate Yield Fund and will invest Rs 60-80 crore and will target gross returns of 22%. It is a four year close-ended private [...] Continue Reading »
