Lotus Greens Developers on October 7 stated that private equity firm Red Fort Capital would invest Rs 1,000 crore in its various residential projects in the national capital region. The real estate firm has recently been founded by Nirmal Singh, one of the promoters of another realty firm The 3C, and its vice chairman P Sahel.
In a statement the company said that Red Fort Capital has already committed Rs 365 crore to it and it will utilise this fund for development of various projects in Delhi NCR region. The remaining Rs 635 crore would be utilised for the company's expansion plan of adding more residential projects in the NCR, the company said.
The statement added that this is one of the largest private equity investments in Indian real estate in recent times.