Altico Capital invests Rs 45 crore in Guardian Developers’ Pune project

MUMBAI: Altico Capital India, a non-banking financial company (NBFC) backed by Clearwater Capital Partners, has disbursed term loan worth Rs 45 crore to Guardian Developers, for its under-construction residential project at Kharadi in Pune.

This is Altico Capital’s first investment in Pune.

The project spread over 10 acre will have around 1 million sq ft of area. It is being developed under a joint development agreement and will primarily consist of 2-bedroom and 3-bedroom apartments.

“Altico more recently has successfully closed five deals which include prominent transactions such as Rs 725 crores investment across multiple projects of realty firm Century Real Estate Holdings in Bengaluru and Rs 450 crores in a South Mumbai project which is a JV between Sanjay Chhabria promoted, Radius Developers and Sumer Group,” said Sanjay Grewal, the newly appointed CEO of Altico.

Amit Pachisia, Chief Credit Officer at Altico added that “we are on course to deploy around Rs 2500 crores by the end of the financial year 2015-16.”