Shapoorji Pallonji Real Estate raises Rs 450 crore from Motilal Oswal

Business Standard

Shapoorji Pallonji Real Estate (SPRE) has raised Rs 450 crore from Motilal Oswal Group to fund its two projects. Motilal Oswal Alternates, the investments arm of Motilal Oswal Group, has committed Rs 450 crore to Shapoorji Pallonji Real Estate. The investment has been made against two projects. One of the projects is a partially completed, leased and operational commercial project located in Manesar. The other project is a residential township project, launched in 2021 and has seen a positive sales response. "The investment, which has been made through structured debt instruments will be utilised towards working capital for the project, repayment of debt and to achieve financial closure," Motilal Oswal said in a statement on Monday. Venkatesh Gopalakrishnan, CEO of Shapoorji Pallonji Real Estate, said the additional funding will strengthen the company's growth story even more by adding significant value to its project pipeline. Sharad Mittal, CEO of Real Estate Funds, Motilal Oswa