Vatika looks to raise around Rs 125 cr from Brahma Cap

NEW DELHI: DELHI-BASED real estate and hospitality company Vatika Group, which raised Rs 1,000 crore from a group of international financial institutions such as Goldman Sachs, Baer Capital and Wachovia Bank in 2007, is in talks to get fresh funds from real estate investment firm Brahma Capital, a person familiar with the matter told ET.

When contacted, Pritam Chivukula, principal-real estate, Brahma Capital, said: “While we are active and looking at a couple of deals in the northern capital region, this is a mere speculation.”

Although the exact deal size could not be ascertained, a senior executive in the private equity space said it is likely to be in the range of Rs 100-125 crore.

Vatika, which has interests in housing, hospitality, commercial complexes, IT parks etc, plans to use the fund to step up construction work in its up coming hotel project under the Westin brand on the Delhi-Jaipur expressway.