Alliance Group gets Rs 165 cr from Kotak for realty project in Chennai

11 Oct 2021 CW Team

Real estate company Alliance Group has raised Rs 165 crore from Kotak Realty Fund for an ongoing residential project in Chennai.

The debt was taken against affordable housing projects. It has taken nearly Rs 800 crore from Kotak Realty Fund for five housing projects in Chennai and Hyderabad.

The Old Mahabalipuram Road project of the Alliance Group is spread across 12.5 acres and has 4,000 units worth Rs 30 lakh to Rs 55 lakh each.

Chairman of Alliance Group, Manoj Namburu, said that the company closed two deals with Kotak during the Covid-19 pandemic and expanded its business in Hyderabad. The last funding round was used to provide an exit to Indostar.

Kotak Investment Fund had previously invested in Alliance Group's residential project in 2016 from its $400 million funds raised in 2014 from Abu Dhabi Investment Authority.

Currently, the company has 20,000 houses under different stages of construction and plans to build 50,000 more units in the next three years.

Namburu said that there are always a lot of tailwinds situation in business, but having a strong finance partner helps the company to expand quickly and brings opportunity in diversity.

The real estate firm also speaks with institutional funds of warehousing space, besides increasing its reach in commercial sectors.

Also read: Shrem group plans to raise Rs 600 cr by diluting 15% stake in InVIT

Infrastructure Energy

21 May 2025

EU and India Launch Rs 39.4 Bn Joint Green Tech Projects

In a move to tackle pressing environmental issues, the European Union and India have jointly launched two major research and innovation initiatives under the EU-India Trade and Technology Council (TTC), with a combined investment of EUR 41 million (Rs 3.94 billion).According to a statement by the EU Delegation to India, these projects focus on combatting marine pollution and developing waste-to-renewable hydrogen technologies, aligning with global sustainability goals and national policies such as India's National Marine Litter Policy and the EU鈥檚 Zero Pollution Action Plan.The first initiat..

Infrastructure Energy

21 May 2025

Jindal Arm Wins Rs 22 Bn Solar-Storage Project

BC Jindal Group, one of India鈥檚 leading business conglomerates with a turnover exceeding Rs 180 billion, announced that its renewable energy subsidiary, Jindal India Renewable Energy (JIRE), has secured a 300 MW solar-plus-storage project from state-owned SJVN.The project, part of SJVN鈥檚 1,200 MW ISTS-connected solar tender with 600 MW/2,400 MWh battery energy storage systems (BESS), will be developed on a build-own-operate basis. JIRE won the bid at a tariff of Rs 3.32/kWh, and must commission the project within 24 months of signing the power purchase agreement (PPA).SJVN will procure pow..

Infrastructure Energy

21 May 2025

Adani Green Adds 50 MW to Khavda Solar Project

Adani Renewable Energy Fifty Six, a subsidiary of Adani Green Energy (AGEL), has operationalised an additional 50 megawatts (MW) of solar power capacity at its project in Khavda, Gujarat.With this latest development, AGEL鈥檚 total operational renewable energy generation capacity has risen to 14,340.9 MW, further consolidating its position as one of India鈥檚 leading green energy producers.Following the necessary regulatory approvals, the decision to commission the plant was finalised at 5:47 a.m. on 14 May 2025, with commercial operations commencing from 15 May 2025. ..