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HDFC Capital takes equity stake in ATS’ Homekraft
Real estate firm HomeKraft has announced that it has diluted minority equity stake to HDFC Capital Affordable Real Estate Fund.
According to the real estate firm, the investment made by the fund, managed by HDFC Capital Advisors, is “one of the rare entity level, equity investments in the real estate sector”.
HomeKraft will invest over $300 million for the development of affordable and mid-income housing across India with a mix of internal accruals, debt and private equity funds. The real estate firm is looking to clock sales of 6,000-6,500 units in the next 3-5 years with expected revenue in the range of $600-$750 million.
“The affordable housing segment is expected to see healthy growth going forward given the impetus provided by the government through various incentives and subvention scheme,” HDFC’s Managing Director, Renu Sud Karnad said in a statement.
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