Saha Groupe to raise Rs 160 crore from Kautilya Finance

NEW DELHI: Noida-based real estate firm Saha Groupe is raising Rs 160 crore from non-banking finance company ( NBFC) Kautilya Finance to fast track one of its under construction projects in Noida and deliver it on time, said two people with knowledge of the transaction.

“The company will also use a part of the money to launch a new project in Noida over the next few months,” said the first person, asking not to be named.

This is Kautilya Finance’ first investment in Indian real estate. The NBFC has got capital from US pension plan Washington State Investment Board (WSIB) through Aevitas Property Partners, the parent of Kautilya Finance.

In 2014, WSIB had committed to invest around $500 million in real estate firms in India, western Europe and the Mediterranean region through Aevitas Property Partners.