more-inPiramal Fund Management (PFM), the financial services arm of Ajay Piramal led- Piramal Group, has surpassed Rs 10,000 crore in aggregate investments in real estate projects in South India, the entity said on Tuesday. This figure which includes disbursements and sanctioned funds has been achieved in less than 3 years in key markets of Bengaluru, Hyderabad and Chennai, a top official said. While Bengaluru market accounts for 65 per cent of the business, Chennai’s share is 25 per cent and the balance 10 per cent has been invested in the Hyderabad market. Consolidation is a healthy sign which will make the end users recognize Tier 1 developer’s track record and execution capabilities,” he added. PFM’s total disbursals and sanctions across India is estimated at Rs 32,000 crore out of which bulk of the money is invested in real estate projects in Mumbai.

Source: The Hindu November 29, 2016 17:16 UTC